MANILA, April 10 (Xinhua) -- Foreign direct investment (FDI) that flowed into the Philippines grew year-on-year by 89.9 percent in January to 907 million U.S. dollars, the country's central bank said Wednesday.
"The increase in FDI was supported mainly by the 173.2 percent expansion in nonresidents' net investments in debt instruments to 820 million dollars from 300 million dollars in January 2023," the Bangko Sentral ng Pilipinas (BSP) said in a press release.
The BSP added that reinvestment of earnings likewise increased by 16.4 percent to 99 million dollars from 85 million dollars.
Meanwhile, the BSP said that nonresidents' net investments in equity capital, other than reinvestment of earnings, posted net outflows of 11 million dollars in January this year from the net inflows of 93 million dollars in January 2023.
The inflows for January came mainly from Japan and the United States, infused mostly in manufacturing, real estate, construction, and wholesale and retail trade industries, the BSP added. ■
