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Philippine FDI in 2014 reached 6.2 bln USD

Xinhua, March 10, 2015 Adjust font size:

Philippine foreign direct investment (FDI) surged 66 percent to 6.2 billion U.S. dollars in 2014, setting a historical high, said the country's central bank on Tuesday.

The figure is higher than the 3.7 billion U.S. dollars in 2013 and also above the central bank's 4.4-billion-U.S. dollars assumption for FDIs in 2014.

The bank said the country's FDI rose more than five fold in December alone, marking the 18th consecutive month that net inflows were recorded.

"FDI inflows remained robust, buoyed by strong investor confidence in the country's solid macroeconomic fundamentals," the central bank said in a statement on Tuesday.

Placements in debt instruments increased 26 percent to 3.3 billion U.S. dollars last year, making up bulk of the FDIs during the period.

Equity capital investments made by foreign companies in their local units, meanwhile, ballooned 207 percent to 2.04 billion U.S. dollars from 664 million U.S. dollars.

The central bank said these came mostly from the United States, Hong Kong, Singapore, Japan, and the United Kingdom and were channeled mainly to the financial and insurance, manufacturing, real estate, mining and quarrying, and wholesale and retail trade sectors. Endi