Tuesday, 11 September 2007

Foreign investments rise 16%

By M. E. I. Calderon
Full report at the BusinessWorld Online

NET FOREIGN direct investments (FDIs) into the Philippines jumped 16% in the first half of the year, underpinned by the country’s improving macroeconomic fundamentals, the Bangko Sentral ng Pilipinas (BSP) said in a statement yesterday.

FDI net inflows for the January-to-June period hit $1.2 billion, compared to last year’s $1.05 billion, already exceeding the central bank’s forecast of $1.08 billion for 2007.

"The macroeconomic gains realized in the first semester, such as the strong external payments position, decelerating inflation, and the robust second-quarter GDP (gross domestic product) growth are expected to provide more confidence-boosting support to the country’s investment landscape," the statement quoted BSP Gov. Amando M. Tetangco, Jr. as saying.

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