MANILA, Jan. 10 (Xinhua) -- Foreign direct investment (FDI) into the Philippines rose 50.2 percent year-on-year in October 2024 to reach 1 billion U.S. dollars, the central bank said Friday.
The bank attributed the increase to a 60.7 percent growth in nonresidents' net investments in debt instruments, which rose to 839 million dollars from 522 million dollars.
The bank added that nonresidents' net investments in equity capital other than reinvestment of earnings rose 34.1 percent to 100 million dollars from 74 million dollars.
Meanwhile, the growth in FDI was moderated by a marginal contraction in nonresidents' reinvestment of earnings, which decreased to 83 million dollars from 84 million dollars in October 2023, the bank said.
The latest figure showed that equity capital placements in October 2024 came largely from Japan, the United States and Singapore, and were invested mainly in the manufacturing, real estate and construction industries.
For the first 10 months of 2024, FDI settled at 7.7 billion dollars, up from 7.1 billion dollars a year earlier. ■