Philippines’ FDI inflow soars in first half of 2014
The foreign direct investment (FDI) net flow in the Philippines rose to 3.6 billion USD for the first six months of the year, up 76.9 percent compared to the same period last year, said the Central Bank of the Philippines (BSP).
The foreign direct investment (FDI) net flow in the Philippines rose to3.6 billion USD for the first six months of the year, up 76.9 percentcompared to the same period last year, said the Central Bank of thePhilippines (BSP).
In June alone, the net inflow hit 588 million USD.
Therise was due to higher lending of parent companies abroad to theirlocal affiliates to fund existing operations and business expansionplans in the Philippines, reflecting investors’ strong confidence in thecountry’s macro-economy, according the central bank.
Most of theinvestments came from the United States, Singapore, Japan, Hong Kong(China) and the United Kingdom, focusing on real estate, manufacturing,transportation and storage, mining, and administrative and supportingservice activities.
The Philippines ranks fifth among all ten ASEAN member states in terms of FDI attraction with 3.86 billion USD in 2013.-VNA
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