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Foreign direct investments net inflows up 98.9 pct in October

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ABS-CBN News

<p>MANILA - Foreign direct investments climbed in October last year, the Bangko Sentral ng Pilipinas said on Monday.</p><p>FDI net inflows grew 98.9 percent growth year-on-year in October to $855 million from the $430 million net inflows in the same month in 2020, the BSP said. </p><p>This brought total FDI net inflows for the first ten months of 2021 to $8.1 billion, higher by 48.1 percent than the $5.5 billion net inflows in January-October 2020, the central bank added. </p><p>&quot;The recorded increase in FDI net inflows in October 2021 was mainly on account of the 78.5 percent growth in non-residents’ net investments in debt instruments to $637 million from $357 million in October 2020,&quot; the BSP said. </p><p>Equity capital placements were sourced mainly from Japan, Singapore, and the United States. </p><p>The Philippines has lagged behind some of its Southeast Asian neighbors in terms of attracting foreign investment. </p><p>But the government hopes that proposed amendments to investment laws, which relax restrictions on foreign ownership, will invite more foreigners to invest in the country. </p><ul class="op-related-articles">	<li><a href="https://news.abs-cbn.com/business/12/15/21/senate-oks-amendments-to-public-services-act-on-third-reading">Senate approves bill seeking to amend Public Services Act</a></li>	<li><a href="https://news.abs-cbn.com/business/05/26/21/foreign-chambers-back-200-k-minimum-capital-for-retail-trade-entry">Foreign chambers back $200-K minimum capital for retail trade entry</a></li></ul><div><strong>FROM THE ARCHIVES</strong></div><figure class="op-interactive"><iframe height="315" src="https://www.youtube.com/embed/oSigsefk6QY?enablejsapi=1" width="560"></iframe></figure><div class="iwantbar">Watch more in <a href="//www.iwantv.com.ph/">iWantv</a> or <a href="//tfc.tv/">TFC.tv</a></div>

FDI net inflows grew 98.9 percent growth year-on-year in October to $855 million from the $430 million net inflows in the same month in 2020, the BSP said.