By Philippine News Agency
Foreign Direct Investments (FDIs) in the country rose 40 percent year-on-year in 2016 and surpassed the government’s USD6.7 billion target.
The Bangko Sentral ng Pilipinas (BSP) has reported that FDIs reached USD7.9 billion last year, higher than the previous year’s USD5.7 billion as all components registered across-the-board growth.
“FDI inflows remained robust, supported by strong investors confidence in the country’s solid macroeconomic fundamentals,” it said.
The central bank said placements on debt instruments posted a net of USD5.2 billion, up 68.6 percent from the USD3.1 billion in end-2015.
Investments in equities registered a net of USD2 billion, up 12.1 percent, with placements higher than withdrawals.
Equity placements last year reached USD2.7 billion, higher than the USD643 million withdrawal.
The capital came mainly from Japan, Hong Kong, Singapore, US and Taiwan and were invested in financial and insurance, arts, entertainment and recreation, manufacturing, real estate, and construction activities.
Last December alone, FDIs posted net inflows amounting to USD669 million, more than twice the USD272 million a year ago. (P