Net foreign direct investments (FDI) fell 83.4 percent to $194 million in February 2008 from 2007. FDI in the first two months 0f 2008 dropped to $327 million, 74.5 percent lower than the $1.28 billion recorded in 2007. Net equity capital inflows were at $31 million in February against $93 million in January. Investments came mostly from the United States, Japan, Malaysia and South Korea and went mainly into the manufacturing, services, mining, construction, real estate and financial sectors, Bangko Sentral ng Pilipinas (BSP) data showed. The BSP expects foreign direct investment to reach $4.2 billion in 2008 from $2.7 billion in 2007 despite global uncertainties, as investments in the mining, shipbuilding and construction sectors take off.
in Daily Tribune by Ruben Hortelano
May 13, 2008
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