Saturday 22 September
Powered by Ajaxy
Jan 10, 2018 @ 20:30

Foreign investments triple in October with strong appetite for PH stocks


Foreign investors placed huge bets in the Philippines during the month.

Net inflows of foreign direct investments (FDI) tripled to $2 billion in October 2017 coming from $670 million recorded a year ago, the Bangko Sentral ng Pilipinas said.

The investment tally is the biggest in over a year, since the record-high of $2.2 billion in April 2016.

The central bank attributed the investment surge to “continued investor confidence” towards the economy, given strong macroeconomic and growth prospects.

The spike in FDIs came as investors threw their money towards local stocks, with gross placements totaling $1.6 billion from a measly $84 million a year ago. The sectors which received the biggest inflows are electricity, gas, steam and air-conditioning supply activities; followed by manufacturing; construction; real estate; and wholesale and retail trade.

Investors from The Netherlands, Singapore, Kuwait, the United States, and Germany were the biggest sources for the month.

Total FDIs as of end-October reached $7.9 billion, up by 20.5% from $6.5 billion the previous year.

Tags: , , , , , , , , ,

Related Stories
The United States ranks near the bottom of the list of countries with the best
No wonder the Department of Finance is not breaking a sweat over surging inflation and
Customs junks P4M worth of imported food. Here's why
Ten years after the fall of Lehman Brothers helped spark the global financial crisis, the


Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.