MANILA - The Philippines booked $679 million in net inflows of foreign direct investments in April, up 114.4 percent compared to the same month a year ago, the Bangko Sentral ng Pilipinas said on Monday.
"This brought the FDI net inflows for the first four months of 2021 to $3.1 billion, a 56.3 percent increase from $2 billion in the comparable period last year," the BSP said.
The BSP said FDI net inflows in April rose on the back of positive foreign investor sentiment on the country’s macroeconomic fundamentals and strong growth prospects.
"In particular, FDI net inflows during the month increased due mainly to the 121.2 percent expansion in non-residents’ net investments in debt instruments to $500 million from $226 million in April 2020," the BSP said.
Non-residents’ net investments in equity capital rose to $97 million in April from just $3 million in the same month last year, the central bank noted.
Equity capital placements also increased by 131 percent to $108 million, while withdrawals decreased by 75.1 percent to $11 million.
Equity capital placements during the month originated primarily from Japan, the United States, and Singapore.
"These were invested largely in the manufacturing and real estate industries," the BSP said.
Foreign investments have been on the rebound from levels seen last year, when strict lockdowns meant to check the spread of COVID-19, also resulted in the country's worst recession since World War 2.