Philippines' Net inflows of foreign direct investments (FDI) in the first seven months this year totaled only 960 million U.S. dollars amid global financial turmoil, less than half the level posted in the same period last year, the Philippine central bank BSP said on Friday.
In July alone, the net FDI inflow was 147 million dollars, compared to 478 million dollars a year earlier, the BSP said in a statement.
The ongoing financial crisis, particularly in the major advanced economies, continued to weigh down on investor sentiment, said Nestor Espenilla, deputy governor of the central bank.
Investments in July came primarily from the Unites States, Japan, Singapore, South Korea, Germany, and Malaysia, channeled into the manufacturing, services, mining, construction, real estate and financial sectors, the BSP said.
Source:Xinhua
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