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Philippine foreign direct investments plunge by 54.6 pct in March

Xinhua, June 10, 2015 Adjust font size:

Philippine foreign direct investments (FDI) fell by 54.6 percent year-on-year by registering net inflows of 229 million U.S. dollars in March this year as all of FDI components were lower, the central bank said Wednesday.

Non-residents' investments in debt instruments issued by local affiliates or intercompany borrowings registered 123 million U.S. dollar net inflows, the Bangko Sentral ng Pilipinas (BSP) said, adding that equity capital investments also posted net inflows of 50 million U.S. dollars.

"This was brought about by the gross equity capital placements of 85 million U.S. dollars in March 2015, which emanated largely from the United States, Japan, Singapore, France, and Germany and were channeled mainly to real estate; electricity, gas, steam and air conditioning supply; manufacturing; administrative and support service; and financial and insurance activities," it said.

Partly offsetting these placements were withdrawals of 35 million U.S. dollars, The central bank said.

Reinvestment of earnings amounted to 57 million U.S. dollars, it added.

The March net inflows brought the total FDI for first quarter of this year to 851 million U.S. dollars, lower by 50.4 percent compared to the 1.7 billion U.S. dollars net inflows posted in the same period last year. Endi