Still strong: Foreign investments jump to $1.6B in May
Foreigners still love the Philippines as a an investment destination.
Foreign direct investments doubled to $1.6 billion in May, coming from $677 million that entered the country a year ago.
The Bangko Sentral ng Pilipinas (BSP) said this was a concrete sign of “continued investor confidence” in the country despite all issues in both the local and international markets.
The biggest investors came from Singapore, the United Kingdom, Germany, the United States and Japan.
Five-month investments now stand at $4.8 billion from $3.3 billion last year.