Foreign investments fall by almost 30% in 11 months — BSP
MANILA, Philippines — Foreign direct investments to the Philippines continued their decline in the first eleven months of 2019 and likely ended the year in the red amid “muted” investor confidence.
In a statement, the Bangko Sentral ng Pilipinas reported that FDIs posted $623 million net inflows in November last year, up 14.6% from $543 million net inflows registered in the same month in 2018.
But it was not enough to lift the 11-month tally, with FDI net inflows from January to November 2019 hitting $6.4 billion, 29.9% lower than $9.2 billion recorded in the comparable period in 2018.
“Concerns over the global economic outlook continued to curb FDI as investor confidence remained muted,” the BSP said.
Job-generating FDIs are a key source of capital for the country’s economy as they provide opportunities for business expansion.
Officials want to attract more FDIs, not only keep existing ones, as they tend to stay longer than other capital inflows.
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