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MANILA – Foreign direct investment in the Philippines reached net inflows of $ 423 million in October, a drop of 24.5 percent compared to a month ago due to the increase in COVID-19 cases, the Bangko Sentral ng said on Friday. Pilipinas.
“The slowdown in FDI during the month can be partly attributed to concerns about the resurgence of COVID-19 cases in the United States, Japan and some European countries,” he said.
“[This] it reflected the adverse impact on investor sentiment amid uncertainties surrounding the effect of a prolonged pandemic on the global economy, “the central bank added.
October FDI posted lower net inflows as net investments in debt instruments fell 16.8 percent to $ 358 million, while net equity investments also plunged 98.2 percent to $ 1 million of dollars.
Most of the equity investments came from Japan, the Cayman Islands, and the United States, and were invested primarily in the manufacturing, real estate, and information and communications sectors.
FDI from January to October also posted net inflows of $ 5.3 billion, down 10.2 percent from $ 5.3 billion for the same period in 2019, the central bank said.
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