Favorable local developments enabled net inflows of foreign direct investments (FDIS) to achieve a two-month high in March, enough to raise the year-to-date amount, according to the Bangko Sentral ng Pilipinas (BSP). Non-residents' net equity capital investments rose by 52.8 percent to $349 million in March 2021 from $229 million the previous year. It said Singapore, Japan, and the United States provided the majority of the equity capital placements, which went to two industries: electricity, gas, steam, and air-conditioning; and manufacturing. "The increase in FDI was mainly due to the 113.2 percent growth in non-residents' net investments in debt instruments to $1.4 billion from $671 million," the central bank noted. Equity capital placements were $828 million in the first three months of 2021, while equity withdrawals were $107 million.

Source: Manila Times June 10, 2021 16:52 UTC