MANILA, Philippines – Foreign direct investments (FDI) slumped for the 2nd straight month in April, but still recorded net inflows, the Bangko Sentral ng Pilipinas (BSP) said on Wednesday, July 10.
FDI in April 2019 stood at $961 million, 11.8% lower than the $1.1 billion in inflows posted in the same month last year.
Net inflows of net equity capital declined by 85.5% to $39 million from $272 million.
Equity capital placements came mostly from Thailand, the United States, Singapore, Hong Kong, and Japan.
These placements were channeled mainly into financial and insurance; real estate; manufacturing; electricity, gas, steam, and air conditioning supply; and construction.
Foreigners’ investments in debt instruments and reinvestment of earnings increased by 12.6% and 14%, respectively.
Year-to-date, FDI yielded $2.9 billion last April, 14% lower from the $3.4 billion recorded during the same month last year.
The government is aiming for FDI to reach $10 billion in 2019. – Rappler.com