10-month FDIs jump to $8.14 billionBSP Governor Benjamin Diokno said the FDI inflow almost doubled to a two-month high of $855 million in October last year from $430 million in the same month in 2020. MANILA, Philippines — The net inflow of foreign direct investments (FDIs) almost doubled in October last year, bringing the total amount of actual investments that flowed into the country to $8.14 billion from January to October last year, exceeding the revised full-year 2021 target of $8 billion. For the 10-month period, Diokno said the figure was higher than the $5.5 billion net inflow recorded in the same period in 2020. Last month, the central bank’s Monetary Board decided to raise the FDI target for 2021 to $8 billion versus the lowered $7 billion in September, and for 2022 to $8.5 billion instead of $7.5 billion. Diokno said cumulative FDI net inflows rose on the back of the 78.6 percent jump in non-residents’ net investments in debt instruments to $5.94 billion during the 10-month period of the previous year’s $3.32 billion.

Source: Philippine Star January 11, 2022 01:18 UTC