The net inflow of foreign direct investments more than doubled in March as the gradual reopening of the economy further boosted investor sentiment, according to the Bangko Sentral ng Pilipinas.
BSP Governor Benjamin Diokno said the net FDI inflow amounted to 808 million dollars in March, up by nearly 140 percent from 337 million dollars in the same month last year.
Preliminary data released by the central bank showed non-residents’ net investments in equity capital jumped by 53 percent to 349 million dollars in March from 229 million dollars in the same month last year.
Equity capital placements coming primarily from Singapore, Japan and the US surged by 36 percent to 377 million dollars. The amount was channeled to electricity, gas, steam, air-conditioning supply industries as well as manufacturing.
Equity pulled out from the Philippines plunged by almost 43 percent to 28 million dollars from 49 million dollars.