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Manila Bulletin devider Business devider Banking & Finance devider FDI surges 90% to $907 M in January

FDI surges 90% to $907 M in January

Published Apr 10, 2024 09:12 am

The country’s net foreign direct investment (FDI) inflows increased by 89.9 percent to $907 million in January from $478 million in the same month in 2023 mostly from investors based in Japan, according to the Bangko Sentral ng Pilipinas (BSP).

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Registered with the BSP, FDIs are actual investments in the form of equity capital, reinvestment of earnings, and borrowings.

FDI includes investment by a non-resident direct investor in a resident enterprise, whose equity capital in the latter is at least 10 percent; and investment made by a non-resident subsidiary or associate in its resident direct investor.

The BSP on Wednesday, April 10, said the increase in FDI was boosted by the 173.2 percent growth in non-residents’ net investments in debt instruments to $820 million from $300 million in January last year. As defined by the central bank, net investments in debt instruments are mainly intercompany borrowing and lending between foreign direct investors and their subsidiaries and affiliates in the Philippines.

Meanwhile, reinvestment of earnings went up by 16.4 percent to $99 million versus $85 million in the same period in 2023.

Also in January, non-residents’ net investments in equity capital other than reinvestment of earnings dropped 112 percent to a net outflow of $11 million from $93 million net inflows in the same period las year.

The BSP added that during the period, equity capital placements came from investors based in Japan and the US.

Japan accounted for 69 percent of the total FDI in January while the US contributed 19 percent. Investments were then channeled to these sectors: manufacturing; real estate; construction; and wholesale and retail trade industries.

The BSP forecasts a 2024 and 2025 net FDI of $9 billion for each year.

Last year, net FDIs amounted to $8.9 billion, lower than $9.4 billion in 2022.

The BSP said FDI statistics are distinct from the investment data of other government sources since the central bank’s report covers actual investment inflows. “By contrast, the approved foreign investments data that are published by the Philippine Statistics Authority (PSA), which are sourced from Investment Promotion Agencies (IPAs), represent investment commitments, which may not necessarily be realized fully, in a given period,” said the BSP.

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