CLARK FREEPORT ZONE – The inflow of foreign direct investment (FDI) may reach $12 billion this year on the back of the country’s strong macroeconomic fundamentals, according to the National Economic and Development Authority (NEDA). Socioeconomic Planning Secretary Ernesto Pernia told participants of the Philippine Economic Briefing organized by the Investor Relations Office that the projected FDI inflows are stronger than the record high $10.05 billion registered in 2017. “We could easily reach $12 billion this year,” Pernia said as FDI inflows amounted close to $1 billion in January. According to central bank data, FDI inflows jumped 57 percent to $919 million in January from $587 million in the same month in 2017. The Philippines has recorded record levels of FDI inflows for two consecutive years at $10.05 billion last year and $8.28 billion in 2016.

Source: Philippine Star April 13, 2018 15:45 UTC