Net FDI up 48% in April

General view of the Bangko Sentral ng Pilipinas Building in Malate, Manila. FILE TMT PHOTO

Net foreign direct investment (FDI) inflows rose 48 percent to $989 million in April from $667 million a year earlier, Bangko Sentral ng Pilipinas (BSP) said on Monday.

“[N]“FDI inflows rose after an increase recorded in all components, led by non-residents’ net investment in debt instruments,” the statement said.

“Equity placement also increased, mainly from Malaysia, the US and Japan,” the central bank added.

Funds mostly went to construction; real estate; professional, scientific and technical; and manufacturing industry.

As of the end of April, the net inflow of FDI from the beginning of the year to date amounted to $3.4 billion, which is 12 percent more than the $3.1 billion recorded in January-April last year.

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“Total net FDI inflows increased mainly due to an increase in non-residents’ net investment in debt instruments,” BSP notes.

However, the “net placement of shares [other than reinvestment of earnings] declined over the period.

Placed shares totaled $517 million year-to-date, down 37 percent from the $823 billion registered a year earlier.

On the other hand, money channeled into debt instruments rose 35 percent to $2.58 billion from $1.91 billion.

Earnings reinvestment increased slightly over the January-April period, reaching $329 million from $326 million a year earlier.