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Manila, Philippines – Foreign direct investment (FDI) inflows into the Philippines saw a 19.8% drop in November 2024, as concerns over potential protectionist policies from US President Donald Trump weighed on investor sentiment, according to data from the Bangko Sentral ng Pilipinas (BSP).
FDI net inflows for the month reached $901 million, down from $1.123 billion in November 2023 and $1.022 billion in October 2024. The decline was primarily driven by:
Japan led foreign equity capital placements at 49%, followed by the United States (24%) and Singapore (17%). The top industries receiving investments were:
Despite the decline in November, total year-to-date FDI net inflows for 2024 stood at $8.580 billion, up 4.4% from $8.220 billion in the same period of 2023.
According to RCBC chief economist Michael Ricafort, the dip in FDI inflows was influenced by:
With global economic shifts and local tax reforms in play, investors are closely monitoring the Philippines’ investment climate in 2025.
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