NEWS AROUND SUBIC BAY

Foreign investment approvals fell by more than 50 percent in the second quarter, the government reported on Friday, with all but one of six agencies reporting year on year declines.

House Minority Leader Danny Suarez is taking to task Executive Secretary Salvador Medialdea for sitting on the leadership issues that have hobbled the Energy Regulatory Commission (ERC) and the Subic Bay Metropolitan Authority (SBMA) for months.

The government’s investment promotion agencies (IPAs) expect more investments from China on top of the $24 billion worth of economic benefits the Duterte administration had secured during the President’s visit to Beijing last year.