A corner of the Philippines (Source: Internet) Hanoi (VNA) - Foreign direct investment (FDI) flows into thePhilippines in the first quarter of this year rose to 2.2 billion USD, anincrease of 43.5 percent from the same period last year.
The investments mainly came to the manufacturing, real estate, arts, entertainmentand culture, and finance and insurance activities, according to the Philippinecentral bank, Bangko Sentral ng Pilipinas (BSP).
In March 2018 alone, FDI net inflows reached 682 million USD, an increase of 27percent from 537 million USD recorded in the same period in 2017, said FinanceAssistant Secretary Paola Alvarez.
FDI inflows reached a record high of 10 billion USD in 2017, up 21.5 percentfrom the previous year.
According to the official, the investments have helped generate jobs and boostgrowth.
Meanwhile, Finance Secretary Carlos Dominguez said that the increasing FDI supportsthe government’s efforts in shifting the economy from consumption-led toinvestment-led growth.
Besides, the government is revisiting its Foreign Investments Negative List(FINL) to open more areas for joint ventures and direct investments, reviewingits procedures to reduce red tape and shorten approval time for businessstart-ups, and exploring possibilities for expanded e-governance using digitaltechnologies, Dominguez said.-VNA
The investments mainly came to the manufacturing, real estate, arts, entertainmentand culture, and finance and insurance activities, according to the Philippinecentral bank, Bangko Sentral ng Pilipinas (BSP).
In March 2018 alone, FDI net inflows reached 682 million USD, an increase of 27percent from 537 million USD recorded in the same period in 2017, said FinanceAssistant Secretary Paola Alvarez.
FDI inflows reached a record high of 10 billion USD in 2017, up 21.5 percentfrom the previous year.
According to the official, the investments have helped generate jobs and boostgrowth.
Meanwhile, Finance Secretary Carlos Dominguez said that the increasing FDI supportsthe government’s efforts in shifting the economy from consumption-led toinvestment-led growth.
Besides, the government is revisiting its Foreign Investments Negative List(FINL) to open more areas for joint ventures and direct investments, reviewingits procedures to reduce red tape and shorten approval time for businessstart-ups, and exploring possibilities for expanded e-governance using digitaltechnologies, Dominguez said.-VNA
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