March net FDI inflows improve, Q1 up 52 pct

ABS-CBN News

Posted at Jun 10 2016 04:18 PM

MANILA - Foreign direct investments (FDI) flowing into the country went up 59.1 percent in March this year to $364 million from the $229 million in March last year, the central bank said in a statement on Friday.

Net FDI inflows in the first three months of the year totaled $1.29 billion, 52.1 percent higher versus the year-ago figure.

But foreign direct investments in the Philippines are still small compared with regional peers due to poor infrastructure, high power costs, and foreign ownership restrictions in key industries.

President-elect Rodrigo Duterte said he would seek to ease restrictions on foreign ownership in all industries. -- With Reuters