MANILA, Oct. 10 (Xinhua) -- The Philippine central bank said Thursday that foreign direct investment (FDI) into the Philippines rose 5.5 percent year-on-year in July 2024 to reach 820 million U.S. dollars.
The latest figure brought the January to July 2024 FDI net inflows to 5.3 billion dollars, a 7.5 percent increase from the same period in 2023.
The bank said higher net inflows across all components drove the improvement in FDI, with nonresidents' net investments in debt instruments rising 2.7 percent to 610 million dollars.
The bank added that nonresidents' reinvestment of earnings and net investments in equity capital (other than reinvestment of earnings) increased by 12.8 percent and 16.8 percent, respectively.
The bulk of the equity capital placements in July came from Japan, the United States, and Singapore, channeled mainly to the manufacturing and real estate industries, it said. ■