Saturday 22 September
Powered by Ajaxy
Feb 16, 2018 @ 9:57

Tax reform, infra rollout attract foreign money to PH

 

The Philippines remained a head-turner for foreign investors looking for new places to go.

Hot money investments yielded net inflows for the third straight month with January seeing $162 million of inbound capital, the Bangko Sentral ng Pilipinas (BSP) said.

More foreign investors chose to keep their flighty funds in the country rather than pull them out. Total placements reached $1.62 billion versus $1.5 billion outflows.

The BSP said the inflows are “attributable to investor optimism over the passage of the first phase of the government’s tax reform program, positive news on corporate earnings, and expected higher government spending for infrastructure projects.”

Implementation of the landmark Tax Reform for Acceleration and Inclusion law started on Jan. 1, 2018.

Investments in listed companies at the Philippine Stock Exchange brought in $80 million, while peso government securities collected $82 million, the BSP said.

The United Kingdom, the United States, Malaysia, Singapore, and Hong Kong were the top five investor countries for the month.

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.