Net inflows of foreign direct investments jumped 52.1 percent in the first quarter to $1.29 billion from $850 million a year ago, amid the rising investor confidence in the Philippines, Bangko Sentral ng Pilipinas said Friday.
Bangko Sentral said in March alone, net FDI flows rose 59.1 percent to $364 million from $229 million in the same month last year.
“The country’s sustained favorable economic performance as evidenced by 69 consecutive quarters of positive growth, and growth prospects for the year ahead, helped drive inflows in all FDI components during the period,” Bangko Sentral said.
It said non-residents’ investments in debt instruments, consisting mainly of loans extended by parent companies abroad to their local affiliates, accounted largely for the increase in net FDI in March.
The equity capital infusions during the period came mostly from Hong Kong, Singapore, Spain, the Bahamas and Taiwan. These funds were channeled to financial and insurance; construction; accommodation and food service; real estate and manufacturing activities.