Global Biz

Philippine FDI in 2009 hits $1.9 billion

(Xinhua)
Updated: 2010-03-10 14:09
Large Medium Small

MANILA, March 10 (Xinhua) -- The Philippines' net foreign direct investments (FDI) in 2009 hit $1.9 billion,  26.2 percent higher from the previous year buoyed by investors confidence in the Philippine economy, the country's central bank said Wednesday.

Related readings:
Philippine FDI in 2009 hits $1.9 billion China’s motor leader eyes auto plant in the Philippines
Philippine FDI in 2009 hits $1.9 billion Philippine Airlines adding flights for Chinese New Year
Philippine FDI in 2009 hits $1.9 billion Philippine fast food giant rearranges businesses

"The country continued to attract foreign investment in 2009 as investors recognized the relative strength of the country's underlying macroeconomic fundamentals, with inflation continuing to be low and falling within target, the external payments position remaining favorable, and economic growth showing resilience amidst the strength in domestic demand," Philippine Central Bank Officer-in-Charge Diwa C. Guinigundo said in a statement.

Net equity capital flow in 2009 increased 50 percent to $1.8 billion. Investors from the US, Japan, Hong Kong and the Netherlands supported the manufacturing, real estate, construction, finance, transportation, mining and trade sectors.

Reinvested earnings reached $84 million, as investors decided to put corporate earnings in local enterprises following a global economic recovery.
Specials
Columnists
China Daily E-paper