Metro Manila (CNN Philippines, July 13) — The Philippines saw foreign direct investments spike by 114.4% in April, recent Bangko Sentral ng Pilipinas data revealed.
The BSP on Monday said inflows rose to $679 million during the month, from the $317 million logged in April 2020.
The latest figure brought cumulative investments to $3.1 billion, also a 56.3% rise from the $2 billion recorded from January to April last year.
The central bank said that the higher FDI tally came “on the back of positive foreign investor sentiment on the country’s macroeconomic fundamentals and strong growth prospects.”
Foreigners’ investments in debt instruments climbed to $500 million during the month, up 121.2% from last year’s $226 million.
Equity capital placements, meanwhile, rose 131% in April to $108 million from $47 million.
However, reinvested earnings fell from $88 million to $82 million during the month — a 6.2% decline.
Most of the investments in equity capital made in April came from Japan, the United States, and Singapore. The central bank noted these were funneled primarily in the manufacturing and real estate industries.