PH books $1 billion in FDI net inflows in February: BSP

MANILA — The Philippines booked some $1 billion net inflows from foreign direct investments in February 2023, higher by 13 percent compared to the $926 million net inflows in the same period last year, the Bangko Sentral ng Pilipinas said on Wednesday.

"The increase in FDI was due to higher non-residents’ net investments in debt instruments, notwithstanding lower net equity capital placements and reinvestment of earnings," the central bank said in a statement.

From January to February, the cumulative FDI net inflows reached $1.5 billion, lower by 14.6 percent compared to the $1.8 billion posted in the first 2 months of 2022, BSP data showed.

"All major FDI components yielded lower net inflows as foreign investors remained cautious amid persistent and broadening global inflation," it said.

Bulk of capital placements were from Japan, the US, and the Cayman Islands and were mostly channeled to the manufacturing, real estate, electricity, gas steam and air conditioning supply and financial and insurance industries, the BSP said.

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