PH FDI grew by 98%
The Philippines saw a 98.9-percent rise in the country’s foreign direct investments (FDIs) in October, bringing the country’s total FDI inflows above the P8-million mark, according to a statement released by the Bangko Sentral ng Pilipinas (BSP)
FDIs to the country grew for the fifth consecutive month in October 2021 to hit $855 million from the $430 million in the same month in 2020. This marked a 98.9-percent rise year-on-year.
FDIs are investments made by foreign players to the Philippines in the hopes of long-term return. Since these are in the country for a longer term compared to their short-term counterpart, the foreign portfolio investments (FPI), FDIs usually create jobs for Filipinos and has a multiplier effect on the economy.
Equity capital placements during the month were sourced mainly from Japan, Singapore, and the United States. These were channeled mainly to the manufacturing; electricity, gas, steam, and air-conditioning; and real estate industries.
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