The Philippines booked a $637 million net inflow of foreign direct investments (FDI) in August, which was 46.9 percent higher compared to the same month last year, the Bangko Sentral ng Pilipinas said on Wednesday.
The BSP said this was the 4th straight month that FDI increased.
"Owing to investors’ renewed confidence as the National Government’s fiscal stimulus and BSP’s accommodative monetary policy stance to mitigate the impact of COVID-19 pandemic gained traction along with the easing of quarantine measures in the country," it said.
FDI net inflows grew in August as net investments in debt instruments surged 72.2 percent to $459 million, and as net equity capital investments also rose 32.9 percent to $107.
"Bulk of the equity capital placements during the month originated from Japan, the United States, and the British Virgin Islands," the BSP said.
But on a cumulative basis, the FDI net inflows were still down 5.6 percent to $4.4 billion in January to August compared to the $4.7 billion net inflows in the same period last year, the central bank said.