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Manila Bulletin devider Business devider FDIs down 12% Jan-July

FDIs down 12% Jan-July

Published Oct 10, 2022 03:09 pm

The country’s net foreign direct investments (FDI) fell by 12 percent to $5.10 billion as of end-July compared to $5.79 billion in same period in 2021, Bangko Sentral ng Pilipinas (BSP) data showed.

The decline can be traced to the significant decline in inflows for the month of July. Data showed that FDI net inflows in July reached only $460 million, down by 64.4 percent versus $1.29 billion same time last year.

US dollar/Manila Bulletin file photo

“All major FDI components yielded lower net inflows in January-July 2022 as foreign investors remained cautious amid continued adverse global conditions,” said the BSP on Monday, Oct. 10. FDIs are equity capital, reinvestment of earnings and borrowings.

In July, the BSP said FDI net inflows declined due mostly to the lower non-residents’ net investments in debt instruments of their local affiliates.

Non-residents’ net investments in debt instruments decreased by 80.6 percent to $213 million compared to $1.09 billion in 2021. “This decrease more than offset the growth in their net investments in equity capital,” said the BSP.

Equity capital infusions in July came from investors located in Singapore, Japan, and the US. These funds were invested in sectors such as construction, manufacturing, and real estate industries.

During the January to July period, equity capital placements were funded by investors located in Japan, the US, Singapore, and Malaysia.

The BSP noted that these FDIs were placed in sectors such as manufacturing, financial and insurance, real estate and construction.

As of end-July, net investments in debt instruments fell by 12.6 percent to $3.55 billion from $4.07 billion same period in 2021.

The net investments in equity capital other than reinvestment of earnings decreased by 13.7 percent to $876 million from $1.01 billion last year.

Meantime, reinvestment of earnings dipped 5.7 percent to $670 million versus $710 million same period in 2021.

The BSP defines FDIs as an investment by a non-resident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent. It also includes an investment made by a non-resident subsidiary or associate in its resident direct investor.

Last year, net inflows increased to an all-time high of $10.52 billion, up by 54.2 percent from $6.82 billion in 2020. The previous record level was $10.3 billion which was in 2017.

The BSP is projecting net FDIs to reach $10.5 billion by end 2022.

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