World Economy

FDI in Philippines Up

FDI in Philippines Up FDI in Philippines Up

Foreign direct investment in the Philippines reached $936 million in the first two months of 2016, up 50.6% from $622 million a year earlier, the Bangko Sentral ng Pilipinas said in a statement on Tuesday, GMA News reported. Equity capital investments surged by 119.1% to $449 million from $205 million in the same period. The BSP noted equity capital investment contributed largely to the FDI net inflows. Equity capital placements rose by 92.2% to $471 million, coming largely from Hong Kong, Spain, Bahamas, Taiwan and Japan. Partly offsetting these placements were withdrawals of $22 million, the central bank said. “These inflows were channeled mainly to agriculture, forestry, and fishing, financial and insurance activities, construction, manufacturing, and real estate activities,” it noted. Net investment in debt instruments or inter-company borrowings from foreign direct investors by their subsidiaries in the Philippines, increased by 23% to $355 million. Reinvested earnings stood at $132 million. In February alone, FDI inflows amounted to $349 million, down 2.9% from $359 million year-on-year.