Foreign investment inflows fall 30% in September

Foreign direct investments (FDIs) -- investments made by foreign companies or individuals in the Philippines -- fell by nearly 30 percent in September, data released by the central bank on Monday revealed.

The Bangko Sentral ng Pilipinas (BSP) said inflows fell by 29.4 percent to $569 million in September from the $807 million the same month last year.

The latest figure also compares with the $750 million recorded in August.

"This developed as equity capital withdrawals of $187 million exceeded equity capital placements amounting to $69 million," the BSP said.

"During the period, equity capital infusions originated largely from the United States, Japan, Macau, Hong Kong, and China.

The investments were channeled mostly into real estate; manufacturing; and electricity, gas, steam, and air-conditioning supply activities.

This brought the year-to-date figure to $8.038 billion, 24.2 percent higher than the $6.472 billion recorded in the first nine months of 2017.

"Investment inflows continued, buoyed by investor confidence in the Philippine economy on the back of strong macroeconomic fundamentals and high growth prospects," the central bank said.

"Bulk of the equity capital placements during the period emanated from Singapore, Hong Kong, the United States, Japan, and China," it added.

The investments during the nine-month period were channeled into manufacturing; financial and insurance; real estate; arts, entertainment, and recreation; and electricity, gas, steam, and air-conditioning supply activities. —LDF, GMA News