The net inflow of job-creating foreign direct investments (FDIs) in August reached a 16-month high of $1.2 billion, narrowing the drop in eight-month inflows, the latest Bangko Sentral ng Pilipinas data released yesterday showed.
FDIs in August jumped 70 percent from $708 million in the same month last year, the biggest since April 2016’s $2.24 billion.
About $2 billion in inflows entered the economy in April last year when Security Bank took in Japanese banking giant Bank of Tokyo-Mitsubishi UFJ as a strategic partner with a 20-percent stake, resulting in a fresh capital infusion of P36.9 billion.
In a statement, the BSP said the robust FDI inflows in August “reflected continued favorable investor sentiment on the Philippine economy on the back of the country’s strong macroeconomic fundamentals.”
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“All FDI components posted net inflows during the period. In particular, net equity capital investments surged to $611 million from $8 million a year ago,” the BSP noted.
The equity capital placements in August mostly came from Hong Kong, Japan, the Netherlands, Singapore and the United States.
