Long-term investments continued to come into the country at lower numbers as of the first 11 months of last year as the economic uncertainty caused by coronavirus pandemic dampened businesses’ expansion plans, data from the central bank showed.
In a statement, the Bangko Sentral ng Pilipinas said foreign direct investments posted net inflows of $537 million in November 2020, representing a contraction by 16.5 percent from the $643 million in net inflows registered in November 2019.
The regulator said this decline was slower compared to the 24.5 percent contraction posted in October 2020 amid news of positive developments in vaccines against the virus.
“Recent contractions in net…
Keep on reading: 11-month net foreign direct investment inflows down 10.8%