MANILA, Philippines - Net foreign direct investments (FDI) inflows to the Philippines rose 40% to $1.1 billion in the first 9 months of the year from $782 million a year ago, according to data from the Bangko Sentral ng Pilipinas (BSP).
The BSP attributed the growth in FDI inflows to higher equity capital investments.
However, net FDI inflows stood at $55 million in September, 60% lower than the $138 million in the same month last year.
Most of the investments came from the United States, Australia, Netherlands, British Virgin Islands, and Japan.
The major sectors that benefited from the investments were manufacturing, real estate, wholesale and retail, mining, financial and insurance, and transportation and storage sectors.
The BSP expects FDIs to hit $1.5 billion this year, higher than an initial forecast of $1.2 billion.