Long-term investments that entered the Philippines from overseas rose sharply in the third month of this year due mainly to the spike in foreign loans made during the coronavirus pandemic, according to the central bank.
In a statement, the Bangko Sentral ng Pilipinas (BSP) said net inflows of foreign direct investment (FDI) grew by 139.5 percent to $808 million in March 2021 from the $337 million in the same month last year.
The favorable performance in March brought the cumulative net inflows of long term foreign investments to $2.4 billion in the first quarter of 2021, higher by 45.1 percent than the $1.6 billion net inflows recorded in the same period last year.
Improved invest…
Keep on reading: Net foreign direct investments jumped 140% in March