World Economy

Philippines Expects $6b FDI

Philippines Expects  $6b FDIPhilippines Expects  $6b FDI

More foreign direct investments are expected to flow into the country next year, the Bangko Sentral ng Pilipinas said Tuesday, Rappler reported. FDI inflows would hit $6.3 billion next year from the projected $6 billion this year amid the volatile global financial environment. BSP also sees FDI inflows rising to $6 billion this year from $5.5 billion last year. The country’s strong macroeconomic fundamentals and the implementation of much needed infrastructure projects under the public- private partnership scheme are seen to buoy FDIs in 2016, the central bank added. “This is in line with the sustained positive developments in the domestic economy and some improvement in the global economic conditions, as well as the implementation of PPP projects that were awarded in 2014 and 2015,” BSP Department of Economic Statistics Director Zeno Ronald Abenoja said. The FDIs would be channeled to manufacturing; electronics and motor parts; utilities like renewable energy and water works; as well as real estate and entertainment.