Philippines' FDI Net Inflows Decline 6.6 Pct In 2023

Foreign direct investment (FDI) that flowed into the Philippines declined year-on-year by 6.6 percent in 2023, the country's central bank said Monday

MANILLA, (UrduPoint / Pakistan Point News - 11th Mar, 2024) -- Foreign direct investment (FDI) that flowed into the Philippines declined year-on-year by 6.6 percent in 2023, the country's central bank said Monday.

The Bangko Sentral ng Pilipinas (BSP) said the FDI net inflows reached 826 million U.S. dollars last December, bringing the yearly total amount to 8.9 billion dollars in 2023, compared to 9.5 billion dollars in net inflows recorded in 2022.

The inflows for 2023 came mainly from Japan, the United States, Singapore, and Germany, infused mainly in manufacturing, real estate, and financial and insurance sectors.

"Notwithstanding the country's sound macroeconomic fundamentals, concerns over subdued global economic growth and geopolitical risks continued to weigh on investors' investment plans," the central bank added.

The inflows in December grew year-on-year by 29.9 percent, mainly due to the 86.2 percent growth in nonresidents' net investments in debt instruments, the BSP said.

Similarly, it added that earnings reinvestment improved slightly by 4.1 percent, while nonresidents' net investments in equity capital declined by 21.7 percent.