FDI inflows up 9.8 pct in 2012

MANILA, Philippines (Xinhua) - Foreign direct investment (FDI) inflows in the Philippines went up by 9.8 percent on year to $2.03 billion in 2012, the central bank said today.

Net inflows of equity capital more than doubled to $1.3 billion last year, from $558 million in 2011 and accounted for the bulk of FDI for 2012.

Major sources of FDI for the Philippines last year were the United States, Japan, and the Netherlands.

Foreign investments were channeled mainly to real estate; financial and insurance activities; electricity, gas, steam, and air-conditioning supply; manufacturing, and wholesale and retail trade sectors.