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Manila Bulletin devider Business devider Banking & Finance devider FDI rises 8.2% as British, Japanese investors pour capital into Philippine factories

FDI rises 8.2% as British, Japanese investors pour capital into Philippine factories

Published Jan 10, 2025 06:22 am

The Philippines has attracted increased foreign direct investment (FDI) in the first 10 months of last year, driven by UK and Japanese funding in the country's growing manufacturing sector.

Based on the latest Bangko Sentral ng Pilipinas (BSP) data, the country recorded a net FDI of $7.679 billion from January to October 2024, up 8.2 percent compared to $7.096 billion in the same period in 2023.

FDIs, as reported by the BSP, comprise equity capital, reinvestment of earnings, and borrowings by non-resident direct investors.

Net FDIs for October alone grew by 50.2 percent to $1.022 billion, compared to $681 million in October 2023.

The BSP attributed the increase in October FDI inflows to the 60.7 percent growth in non-residents' net investments in debt instruments, which rose to $839 million from $522 million in the previous year.

Net investments in equity capital (excluding reinvestment of earnings) also increased by 34.1 percent to $100 million from $74 million, while reinvestment of earnings fell slightly by 0.9 percent to $83 million from $84 million.

On a cumulative basis, reinvestment of earnings dropped by 4 percent to $1.032 billion as of end of October 2024, compared to $1.075 billion in 2023.

Conversely, net debt instruments rose by 3.3 percent to $5.19 billion, compared to $5.024 billion in 2023.

Non-residents' net investments in equity capital (excluding reinvestment of earnings) also increased by 46 percent to $1.456 billion, compared to $998 million in the previous year.

FDIs registered with the BSP represent actual investment inflows, unlike investment data from other government sources, which may not have materialized.

From January to October 2024, equity capital placements primarily came from investors in the United Kingdom (40 percent), Japan (39 percent), and the United States (9 percent).

During the first ten months of 2024, 73 percent of FDIs were invested in the manufacturing sector, 12 percent in real estate, and 4 percent in wholesale and retail trade.

The BSP considers FDIs a crucial source of external financing, providing benefits to the economy through employment generation, technology transfer, and market integration.

Based on the BSP's latest balance of payments projections, net FDIs are expected to reach $9 billion in 2024 and $10 billion in 2025.

FDI inflows are largely driven by strong growth prospects, decelerating inflation, and government reforms aimed at increasing foreign investments.

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