Foreign direct investments up 7 pct in Feb

ABS-CBN News

Posted at May 10 2017 05:41 PM

MANILA - Foreign direct investments (FDIs) reached $366 million in February, higher by 7 percent compared to the $342 million booked in the same month last year, according to the Bangko Sentral.

Data from the BSP showed that FDI net inflows amounted to $1.1 billion in the first two months of the year, representing an 11 percent year-on-year growth. 

"Investment inflows continued as investors remain confident in the Philippine economy on the back of strong macroeconomic fundamentals," the BSP said in a statement. 

FDIs in the Philippines are miniscule compared with that in regional peers due to poor infrastructure, high power costs and foreign ownership restrictions in key industries.

Last year, net FDIs reached $7.9 billion, 41 percent higher than net inflows of $5.6 billion in 2015.

-- with a report from Reuters