Philippines' FDI net inflows rise 35.7 pct in July
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E-mail Xinhua, October 10, 2023
MANILA, Oct. 10 (Xinhua) -- Foreign direct investment (FDI) that flowed into the Philippines rose 35.7 percent year-on-year in July to reach 753 million U.S. dollars, the Philippine central bank said Tuesday.
The latest figure brought the country's FDI net inflows from January to July 2023 to 4.7 billion dollars, a 14.7 percent decline from the same period in 2022.
"FDI declined amid concerns over slowing global growth," the bank said.
The bank added that the growth in July was mainly due to a 108.4 percent increase in nonresidents' net investments in debt instruments, which more than offset the decrease in nonresidents' net investments in equity capital by 52.6 percent and their reinvestment earnings by 20.1 percent.
The bulk of inflows in July came mainly from Japan, the United States and Singapore, infused largely to the manufacturing, real estate, and financial and insurance industries, it said. Enditem
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