Philippines’ FDI net inflows grow by 6.3pc in October

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Foreign direct investment (FDI) that flowed into the Philippines grew to 923 million U.S. dollars in October, 6.3 percent higher than the amount posted in October 2021, the Philippine central bank said late Tuesday.

On a cumulative basis, the Bangko Sentral ng Pilipinas (BSP) said the FDI net inflows from January to October reached 7.6 billion dollars, 8.3 percent lower than the 8.3 billion dollars recorded in the comparable period in 2021.

Despite the global headwinds, the BSP said FDI net inflows rose because of the increase in non-residents’ net investments in debt instruments and equity capital of their local affiliates.— Xinhua