FDI inflows up 78.5 pct in March
MANILA, Philippines (Xinhua) - Foreign direct investment (FDI) inflows in the Philippines jumped by 78.5 percent on year to $476 million in March, the local central bank said today.
The Philippine central bank said net inflows of equity capital investments expanded to $278 million in March, significantly higher than the $38 million posted a year ago.
"This was on account of the 264.8 percent increment in gross equity capital placements to $405 million from $111 million in the previous year, which more than offset the withdrawals during the period," the central bank said in a statement.
The bulk of foreign investments in March came from the United States, Japan, Singapore, and Hong Kong, China.
Foreign investments during the period were channeled mainly to financial and insurance activities, manufacturing, real estate, mining and quarrying, and wholesale and retail trade.
For the first quarter of the year, FDI net inflows reached $1.85 billion.
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