The Philippines’ foreign direct investments (FDI) in October reached its six-month low, decreasing by 24.5 per cent to $423 million from $561 million a year earlier. The amount is the lowest since April’s $314 million.
The Bangko Sentral ng Pilipinas (BSP) said all major FDI components posted smaller net inflows during the month. Further, this slowdown may be caused by “concerns over the resurgence of COVID-19 cases in the US, Japan, and some European countries.”
The October infusions came largely from Japan, the Cayman Islands, and the United States. They were channeled mainly into the manufacturing, real estate, and information and communication industries.