The Department of Trade and Industry (DTI) yesterday said the sustained increase in foreign direct investments (FDIs) indicates global confidence in the Philippines as a preferred investment destination.
DTI Secretary Alfredo Pascual made this statement after the Bangko Sentral ng Pilipinas (BSP) yesterday reported net inflows were up for the third consecutive month in March, registering a 23.1 percent year-on-year growth to reach $686 million from the $557 million net inflows in the same month in 2023.
This brought cumulative FDI net inflows to $3 billion in the first quarter of the year, a 42.1 percent growth from the $2.1 billion net inflows recorded in the same quarter of 2023.
The BSP said FDI increased during the quarter on the back of the country’s strong growth prospects and moderating inflation.
Pascual in a statement said the first quarter FDI saw an investment increase is across diverse sectors.
He said the significant jump in equity capital from key partners like Japan, Singapore, and the United States reflects strengthened bilateral relations and continued economic opportunities.
The BSP data showed equity capital placements in March were sourced primarily from Japan, Singapore, and the United States. These were invested largely in the manufacturing, financial and insurance, and real estate industries.
“The positive trends follow our investment promotion efforts to these countries, among others. These engagements have been pivotal in bolstering investor confidence and forging stronger economic partnerships. Our goal is to ensure that investments inflows translate into meaningful economic opportunities and improved quality of life for all Filipinos.
