February FDI net inflow down 2.9 pct

ABS-CBN News

Posted at May 10 2016 06:55 PM

MANILA - Foreign direct investments (FDI) flowing into the country went down 2.9 percent in February, the Bangko Sentral ng Pilipinas (BSP) said on Tuesday.

BSP said net FDI inflows amounted to $349 million in February, lower than the $359 million recorded in the same period last year.

Net equity inflows jumped 6.9 percent to $192 million in February from $179 million while equity placements increased by 9.6 percent to $211 million from $192 million.

Most of the capital infusions came from Spain, Japan, Hong Kong, the US, and Germany and were channeled to construction; manufacturing; real estate; accommodation and food service as well as electricity, gas, steam and airconditioning supply activities.

Meanwhile, net FDI inflows in the first two months of the year reached $936 million, 50.6 percent higher from a year ago.

“All FDI component registered increases as investors’ confidence was buoyed by the country’s economic growth prospects and sound macroeconomic fundamentals,” the central bank said.

FDI inflows are seen to rise to $6.3 billion this year.