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Net inflows of foreign direct investment rose 7.1 percent in June to $ 481 million from $ 449 million a year ago despite the impact of the health crisis, the Bangko Sentral ng Pilipinas said on Tuesday. “This positive development was supported by the gradual reopening of advanced economies with investment interest in the Philippines, and the country’s strong sustained macroeconomic fundamentals, despite the COVID-19 pandemic,” BSP said in a statement. Data showed that net equity investments expanded to $ 173 million from $ 29 million a year ago, following the 137.6 percent increase in equity placements to $ 185 million from $ 78 million and the decrease in withdrawals. by 74.9 percent to $ 12 million from $ 49 million. Most of the share capital placements for the month came from Japan, the United Kingdom and the United States. These were invested primarily in manufacturing, human health and social work, financial, insurance and real estate industries. Meanwhile, net investments in debt instruments fell 28.8 percent in June to $ 229 million from $ 321 million in June 2019. Reinvestment of earnings was also 19.4 percent lower to $ 80 million. compared to $ 99 million a year ago. Net FDI inflows in the first half reached $ 3 billion, 18.3 percent less than the $ 3.7 billion in the same period last year.
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