Philippines’ FDI grows 43.5 pc in Q1

Foreign direct investment (FDI) into the Philippines in the first quarter of this year rose to 2.2 billion U.S.  dollars, or an increase of 43.5 per cent compared to the same period last year, the government said yesterday, reports Xinhua from Manila.

Citing data from the central bank Bangko Sentral ng Pilipinas (BSP), Finance Assistant Secretary Paola Alvarez said that in March 2018 alone, FDI net inflows reached 682 million U.S. dollars, or an increase of 27 per cent from 537 million U.S. dollars recorded in the same period in 2017.

“These are actual investments that flowed into our economy that helped create jobs and fueled growth. We should be more concerned with FDIs that are delivering economic benefits to the people, rather than pledges,” Alvarez said.

Alvarez said the increase in FDI inflows “is testament to the strong vote of confidence by investors in the economic strategy of the Duterte administration, which is anchored on an aggressive spending program on infrastructure and human capital development to achieve inclusive growth.”

 

Philippines FDI grows 43.5 pc in Q1

Foreign direct investment (FDI) into the Philippines in the first quarter of this year rose to 2.2 billion U.S. dollars, or an increase of 43.5 per cent compared to the same period last year, the government said yesterday, reports Xinhua from Manila. Citing data from the central bank Bangko Sentral ng Pilipinas (BSP), Finance Assistant Secretary Paola Alvarez said that in March 2018 alone, FDI net inflows reached 682 million U.S. dollars, or an increase of 27 per cent from 537 million U.S. dollars recorded in the same period in 2017. These are actual investments that flowed into our economy that helped create jobs and fueled growth. We should be more concerned with FDIs that are delivering economic benefits to the people, rather than pledges, Alvarez said. Alvarez said the increase in FDI inflows is testament to the strong vote of confidence by investors in the economic strategy of the Duterte administration, which is anchored on an aggressive spending program on infrastructure and human capital development to achieve inclusive growth.