Asia investors flock RP

Asia investors flock RP

MANILA (AFP): Asian economies remained the Philippines' top investors in 1998 despite the lingering effects of the financial crisis, official data showed Sunday.

Data from Manila's Board of Investments (BOI) showed total investment from Asia in the eleven months to November jumped 98.9 percent to 14.53 billion pesos (US$372.5 million).

The agency noted a steady investment flow from Hong Kong, Thailand and Singapore, although investment from Malaysia fell slightly.

In contrast, investments from Europe dropped 86.9 percent to 4.22 billion pesos ($10.8 million), the agency said. Europe was the leading foreign investor in 1997.