World Economy

Philippines FDI Down 41%

 Philippines FDI Down 41% Philippines FDI Down 41%

Foreign direct investments flowing into the country plunged to the lowest level this year in June, the central bank said on Tuesday, ABS/CBN reported. The FDI plunged 41% year-on-year to $238 million. June’s net inflow brought net inflows in the first half of the year to $4.2 billion, compared with $2.2 billion in the same period last year, the Bangko Sentral ng Pilipinas said. The first half surge in foreign direct investments inflows was largely due to investments of foreign companies in debt instruments issued by their local affiliates, it said. President Rodrigo Duterte has said he will seek to ease restrictions on foreign ownership in all industries.