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October 02, 2023

Philippines books all-time high $10.5B net FDI inflow, $8B target breached

The Philippines booked a record foreign direct investments (FDIs) inflow last year after bouncing back strongly from a recession caused by the global health crisis.

Bangko Sentral ng Pilipinas Governor Benjamin Diokno said the net FDI inflow jumped by 54.2 percent to hit a record high of $10.5 billion in 2021 from $6.8 billion in 2020.

This eclipsed the previous all-time high of $10.3 billion recorded in 2017 as well as the $8 billion target set by the central bank’s Monetary Board for 2021.

“The growth in FDI reflected continued positive foreign investor sentiment on the country amid expectations of a rebound in domestic economic activity and declining COVID-19 reported cases, as well as the strengthening of the global economy,” Diokno said.

Data showed non-residents’ net investments in debt instruments jumped by 80.4 percent to $7.53 billion as foreign companies injected more funds to their affiliates in the country, while reinvestment of earnings increased by 34.7 percent to $1.27 billion.

Equity capital placements from Singapore, Japan, United States, and the Netherlands stood at $2.12 billion, while withdrawals inched up by 1.8 percent to $399 million.

For December alone, the country’s net FDI inflow jumped by 59 percent to $1.07 billion from $671 million in the same month last year.

The central bank forecasts a net FDI inflow of $8.5 billion for this year.


PNB recognized during SSS’s 66th anniversary celebration

The Social Security System (SSS) has bestowed two prestigious awards upon Philippine National Bank (PNB), designating them as the “Best Collection Partner” for the Overseas Bank category and the “Best Disbursement Partner” for the Universal Bank category during the “Balikat ng Bayan” Awards (BBA) 2023 ceremony held at the SSS Main Office in Quezon City on September 8.

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