FDI inflows tank in July on growing recession fearsUnlike the so-called “hot money” which enters and leaves markets with ease, FDIs are firmer commitments that provide jobs for Filipinos, so the government wants to attract more FDIs and not only keep existing ones. Data from the Bangko Sentral ng Pilipinas released Monday showed FDIs raked in a net inflow of $460 million in July, slumping 64.4% year-on-year. A net inflow means more FDIs entered the country than those that left. Year-to-date, FDI posted a net inflow of $5.1 billion, down 12% on an annual basis. For this year, the central bank projects a full-year haul of $10.5 billion net inflow, lower than the actual $12.4 billion net inflow recorded last year.
