October FDI inflows shrink from September record high

ABS-CBN News

Posted at Jan 11 2016 09:21 PM

MANILA - Net foreign direct investments (FDI) in October reached $451 million, the Bangko Sentral ng Pilipinas (BSP) said.

Net FDI inflows in October 2015 were 1.4 percent higher versus October inflows the year before, but lower than September's record high of $1.52 billion.

That brought net FDI inflows in the 10 months to October to almost $5 billion, 4.9 percent lower versus inflows in the same period a year earlier.

The central bank saw a 71 percent increase in intercompany borrowings between foreign direct investors and their local units or affiliates.

Net FDI inflows in 2014 reached a record high of $6.2 billion, but were still small compared with regional peers, due to poor infrastructure, high power costs and foreign ownership restrictions in key industries. -- With Reuters