FOREIGN direct investments (FDIs) received by the Philippines in September 2024 were the lowest since the height of the pandemic, according to the latest data released by the Bangko Sentral ng Pilipinas (BSP).
Skyscrapers, both old and new, are mirrored in a river in Pasay City, symbolizing the Philippines’ evolving urban landscape amid a changing economic climate.
The data showed net FDIs amounted to $368 million in September 2024, the lowest since the $314 million posted in April 2020. Apart from this, Philippine Institute for Development Studies Senior Research Fellow John Paolo R. Rivera also told reporters that the slowdown in the country’s economic growth in the third quarter may have also “raised concerns among foreign investors.”
“Bulk of the equity capital placements in September 2024 were sourced from Japan, the United States, and Singapore. Said investments were channeled mainly to the manufacturing, real estate, information and communication, and wholesale and retail trade industries,” BSP said.
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