FDI inflows surge in Aug.

MANILA, Philippines (Xinhua) - Foreign direct investment (FDI) inflows in the Philippines surged by 112 percent on year to $299 million in August, the central bank said today.

"Parent companies abroad continued to lend funds to their local subsidiaries or affiliates to fund existing operations and expand their businesses in the country," the Bangko Sentral ng Pilipinas (Philippine central bank or BSP) said in a statement.

Equity capital or investments made by foreign companies in their Philippine units expanded more than three-fold to $180 million in August from $42 million recorded a year ago. Most of the placements came from the United States, Thailand, the Netherlands, Sweden, and Singapore.

The BSP said FDIs were channeled mainly to financial and insurance, manufacturing, transportation and storage, real estate, and administrative and support services sectors.

Placements in debt instruments also went up by 31 percent on year to $59 million in August from $45 million recorded in the same period last year, BSP data showed.

In the eight months to August, FDI inflows jumped 59 percent to $4.3 billion from $2.7 billion posted a year ago.