Foreign investment up 43.5% in first quarter
Foreign direct investments to the Philippines rose significantly in the first three months of the year on the back of a strong economy, according to the central bank. In a press statement, the Bangko Sentral ng Pilipinas said FDI totaled USD2.2 billion in net inflows for the first quarter of 2018, representing an increase of 43.5% from the USD1.5 billion recorded in the comparable period last year. The BSP said this reflects investors’ continued positive outlook on the Philippine economy on the back of its sound macroeconomic fundamentals and robust growth prospects. The Philippine economy accelerated to 6.8 percent in the first quarter, up from the revised 6.5 percent in the fourth quarter of last year. For the month of March 2018, FDI reached USD682 million, representing 27% growth from the USD537 million recorded in the same period last year. Equity capital infusions in March came mostly from Singapore, Hong Kong, Japan, the United States and Sweden.
