Data from the Bangko Sentral ng Pilipinas showed that foreign direct investments surged 35.2% to $797 million in July, the highest amount of monthly inflows so far this year despite the coronavirus crisis.
Foreigners were more bullish on debt and less on equity capital. Construction, real property, wholesale and retail trade, as well as manufacturing remained their preferred sectors.
The top three equity investors were Japan, China, and the United States.
Investments for the first seven months, however, remained low at $3.8 billion.