Monday, 12 October 2009

Foreign investments up 34% in Jan-July


MANILA - Foreign direct investments (FDI) to the Philippines posted a 34% increase in the first 7 months of the year, the central bank said on Monday.

The Bangko Sentral ng Pilipinas said net FDI from January to July reached $1.24 billion, with $347 million registered in July alone.

"Foreign capital continued to pour into the Philippine economy, encouraged by the country's sound macroeconomic strengths amid challenging global economic conditions and strains in foreign financial markets," the BSP said in a statement.

Sectors that enjoyed most of the FDI inflows in the seven month period were the following: manufacturing, real estate, construction, services, financial intermediation, mining, and trade and commerce sector.

Investments came mostly from the United States, Japan, Hong Kong, and the Netherlands.

In the first 7 months, total inflows reached $1.46 billion. Total outflow was at $222 million.

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