Foreign direct investments up from Jan-Aug: BSP

ABS-CBN News

Posted at Nov 12 2018 10:57 PM

MANILA - The Philippines attracted more foreign direct investments (FDIs) in the first 8 months of 2018 compared to the same period the previous year, the central bank said Monday.

The Bangko Sentral ng Pilipinas said FDI net inflows reached $7.4 billion from January to August, which was 31 percent higher than the $5.7 billion net inflows registered in the same period last year.

"FDI inflows remained strong amid continued favorable investor sentiment on the Philippine economy on the back of the country’s strong macroeconomic fundamentals and growth prospects," the BSP said.

For August, however, net FDI reached $752 million, lower by 41 percent than the $1.3 billion last year.

The country posted a record $10 billion in net FDI inflows in 2017.