FOREIGN direct investment (FDI) soared 154 percent in the first two months of the year, encouraged by strong macroeconomic fundamentals, the Bangko Sentral ng Pilipinas (BSP) said Thursday.
FDIs reached $850 million in January to February, up $515 million from $335 million a year earlier, BSP Gov. Amando Tetangco Jr. noted in a statement
“The respectable growth of FDI reflected favorable investor sentiment as the country’s macroeconomic fundamentals remained strong amid continuing concerns over the sovereign debt crisis in some parts of Europe and the moderation in global economic activity,” said Tetangco.
Equity placements surged 1,317 percent to $893 million from $63 million in the same comparable period, and withdrawals rose 266.7 percent to $77 million from $21 million.