Philippine FDIs reach a four-month high of USD989 million in April
Equity placements were channeled mainly to construction, financial and insurance, manufacturing, and real estate
Felipe M. Medalla, governor of Bangko Sentral ng Pilipinas (BSP) said that the Philippine economy went up nine percent in Q2 2022. However, he added that the GDP is expected to slow down in H2.
BusinessWorld reported that his personal GDP growth projection is seven percent, which is within the government’s target of 6.5 to 7.5 percent. He added that it is possible to achieve the target GDP with the help of foreign direct investments (FDIs), as well as consumer and business sentiment.
On that note, Philstar.com revealed that the net inflow of FDIs saw a 48.3 percent surge, reaching USD989 million in April. This is the highest in four months. It is also a huge jump from the recorded USD667 million during the same period last year.
According to the BSP, FDI inflow will increase by 4.8 percent this year to a new high of USD11 billion from last year’s USD10.5 billion. It is also expecting FDI inflow to reach USD12 billion, a new all-time high, in 2023.
More: Economic liberalisation bills may attract more FDIs in the Philippines
Net investments in debt instruments grew 35.3 percent to USD2.58 billion from USD1.91 billion during the first four months. The BSP also saw a 12.1 percent increase in net FDI inflow to USD3.43 billion from USD3.06 billion during the same period last year.
Equity placements from the US, Malaysia, and Japan were channeled mainly to construction, financial and insurance, manufacturing, and real estate.
In attracting foreign investors, a sound political environment and effective government policies are only half of it. The second part is all about an effective promotional strategy, which is where digital technologies come in, according to The Manila Times.
Interactive website content now includes welcome videos from host country officials, investor endorsements, augmented reality and virtual reality technology, newsletters and reports with economic statistics, podcasts, and blogs.
The Property Report editors wrote this article. For more information, email: [email protected].
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