Photo illustration of US dollar to PH peso exchange in this photo taken on September 30, 2022. Gigie Cruz, ABS-CBN News 

MANILA -- The Philippines booked $826 million in foreign direct investment (FDI) net inflows in December, higher than the $636 million booked in the same period in 2022, the Bangko Sentral ng Pilipinas (BSP) said Monday.

The BSP said FDIs increased by 29.9 percent as nonresidents’ net investments in debt instruments rose to $527 million from US$283 million in December 2022.

The Bangko Sentral said reinvestment of earnings was slightly up by 4.1 percent to $91 million from $87 million. 

Nonresidents’ net investments in equity capital, however, fell by 21.7 percent to $208 million in December 2023, from US$266 million in 2022.

Equity capital placements during the month mostly came from Japan and were invested in manufacturing. 

For the whole of 2023, FDI net inflows decreased by 6.6 percent--from $9.5 billion the year prior to $8.9 billion in 2023.

PH books $7.6-B FDI net inflows from Jan-Nov, down 13.3 pct

The Philippines has been a laggard in terms of attracting foreign investments compared to its regional peers. 

The government however is hoping that recent changes to the country’s investment laws which remove restrictions on foreign ownership, will help attract more capital. 

Foreign direct investments net inflows down in October

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