The Philippines may have been playing second fiddle among its neighbours in Foreign Direct Investments (FDIs) but the country’s inflows have been steadily rising in the past few years. In June of this year alone, the amount of FDIs rose to $588 million, almost a quarter better than the registered amount last month.
Looking at the bigger picture, the Philippines’ FDIs for the first half of this year are worth $3.57 billion. The said number is only a little less than $300,000 of last year’s annual FDIs and barely four-fifths more than what was tallied in the same period of 2013. With six months to go, the Philippines is anticipated to experience its highest amount of annual FDIs this year.
The Bangko Sentral ng Pilipinas attributes the current progress to a strengthened faith of investors, both local and foreign, in the Philippines’ “solid macroeconomic fundamentals.” The turnout was way above the 2014 target of the BSP which was at $1.1 billion following a dip in the economy’s growth as seen by lower GDP figures within the first semester.
