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Friday, April 11, 2014

Net foreign direct investments up 5.3% in January, says Bangko Sentral

Net foreign direct investment rose 5.3 percent to $1 billion in January from a year earlier on sustained confidence in the country's strong macroeconomic fundamentals, Bangko Sentral ng Pilipinas said on Thursday.

This was a reversal from the 7.9 percent decline recorded a year earlier.

“This developed as investments in debt instruments and equity capital registered higher net inflows during the month despite the observed reversal in foreign portfolio investments,” Bangko Sentral said.

Specifically, non-residents' net placements in debt instruments issued by local affiliates went up by 7.3 percent to $687 million, Bangko Sentral data showed.

The central bank said foreign firms continued to lend to their local affiliates to fund existing operation and the expansion of businesses.

Equity capital placements, meanwhile, netted an inflow of $278 million, 10.5 percent higher than the $252 million inflow posted a year earlier.

The top sources of equity capital were Hong Kong, the United States, Japan, Singapore and the United Kingdom.

Reinvested earnings reached $62 million in January, according to the central bank.

Source: GMA News

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