FOREIGN direct investments (FDI) remained positive in August but were markedly lower compared to a year ago, the Bangko Sentral ng Pilipinas (BSP) reported on Monday.
FOREIGN direct investments remained positive in August but were markedly lower compared to a year ago, the Bangko Sentral ng Pilipinas reported on Monday.At $813 million, the net FDI inflow fell by 14.5 percent from the year-earlier $951 million.'The decline in FDI net inflows during the month was due mainly to the 21.6-percent contraction in nonresidents' net investments in debt instruments to $529 million from $675 million,' the BSP said in a statement.
Equity capital placements for January-August originated mostly from the United Kingdom , Japan and the United States .The bulk, or 75 percent, went to the manufacturing sector, followed by real estate and wholesale and retail trade .Rizal Commercial Banking Corp. chief economist Michael Ricafort said that higher global interest rates may have partly weighed on FDI due to increased borrowing and financing costs.
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