FDI rose 7.1% in June 2020
Latest data released by the Bangko Sentral ng Pilipinas (BSP) revealed that the Philippine foreign direct investments (FDI) stood at a net inflow of to $481 million in June 2020, which is 7.1% up from the $449 million in June 2019.
The country’s FDI rose for the second straight month as the global economy gradually reopened after months of hard lockdowns due to the COVID-19 pandemic.
“This positive development was underpinned by the gradual reopening of advanced economies with investment interest in the Philippines, and the country’s sustained strong macroeconomic fundamentals, despite the COVID-19 pandemic,” the BSP said.
The central bank expects FDI to hit $4.1 billion in 2020, only around half of its initial target of over $8 billion.
Related news
- BPO firm shuts down office as two employees test positive for COVID-19 · 25 Aug
- Thirteen government agencies and organizations now PEZA’s investment partner · 25 Aug
- Japanese firm seeks to invest in PH BPO companies · 24 Aug
Disclosure: Outsource Accelerator uses AI tools in the backend of its editorial workflow. Every article is reviewed and verified by a human editor before publication.
Stay ahead of the outsourcing industry. Join thousands of business leaders who rely on Outsource Accelerator for the news, trends, and expert insights that matter. Subscribe to our free newsletter and never miss an update.
