Foreign investment inflows to the Philippines remained slumped in April, with lower capital infusions to local companies compared to a year ago.
The country shored up $961 million worth of foreign direct investments during the month, improving from the $586-million haul in March, according to latest data from the Bangko Sentral ng Pilipinas. However, this was 11.8 percent lower than the $1.089 billion investments received in April 2018.
Reinvested earnings, or profits secured by global companies which they chose to retain for their local units, picked up to $92 million, rising from March's $80-million haul. Bets made on debt instruments, which are deemed safer than equity, likewise grew to $830 million, more than double the $399 million received in March and 12.6 percent higher than the amount secured the previous year.
The spending plan was only signed into law on April 15, which left government with a reenacted budget that left new programs unfunded. Other factors were the escalation of the trade war between the United States and China, as well as the future of the tax reform bill targeting corporate income taxes and fiscal perks, Roces said.This is also the second straight month of an FDI decline. The April tally brought the four-month haul to $2.903 billion, 14 percent below the $3.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Illegal Japanese manga site manager arrested in the PhilippinesRomi Hoshino manages 'Manga Mura' (Manga village), which shut down on its own in April last year as Japan launched a manhunt for the website's founder for massive violation of copyright
Read more »
PSE warns vs investment scam using letter with old stock exchange logo
Read more »
Philippines ranks as third best country for investmentThe Philippines landed as the third best country in the world to invest in or do business for 2019, this according to the CEOWORLD magazine. It came after Malaysia in first place and Poland which took silver. Indonesia (No. 4) and Australia (No. 5) completed the top five among 67 countries.
Read more »
Catholic prelates to withdraw from ‘dirty energy’ investmentsCatholic prelates have committed to divest their fund deposits of firms investing in
Read more »
Lawmaker: Cha-cha may pass if limited to lifting foreign ownership restrictionsPresently, Filipinos need to have at least a 60 percent stake in a corporation that operates a public utility, while foreigners can only own up to 40 percent.
Read more »
Bangladesh boosts efforts to stop trafficking of Rohingya amid US criticism
Read more »