Foreign direct investments net inflows up 98.9 pct in October

ABS-CBN News

Posted at Jan 10 2022 07:26 PM | Updated as of Jan 10 2022 10:10 PM

MANILA - Foreign direct investments climbed in October last year, the Bangko Sentral ng Pilipinas said on Monday.

FDI net inflows grew 98.9 percent growth year-on-year in October to $855 million from the $430 million net inflows in the same month in 2020, the BSP said. 

This brought total FDI net inflows for the first ten months of 2021 to $8.1 billion, higher by 48.1 percent than the $5.5 billion net inflows in January-October 2020, the central bank added. 

"The recorded increase in FDI net inflows in October 2021 was mainly on account of the 78.5 percent growth in non-residents’ net investments in debt instruments to $637 million from $357 million in October 2020," the BSP said. 

Equity capital placements were sourced mainly from Japan, Singapore, and the United States. 

The Philippines has lagged behind some of its Southeast Asian neighbors in terms of attracting foreign investment. 

But the government hopes that proposed amendments to investment laws, which relax restrictions on foreign ownership, will invite more foreigners to invest in the country. 

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