FOREIGN direct investments (FDI) rose significantly in July 2018 to US$914 million from the US$344 million posted in July 2017.

This reflected the continued positive investor sentiment on the Philippine economy on the back of strong macroeconomic fundamentals and growth prospects, the Bangko Sentral ng Pilipinas said yesterday.

More than 60 percent of FDI net inflows during the month were in the form of non-residents’ investments in debt instruments issued by local affiliates (intercompany borrowings), which expanded to US$584 million from US$136 million in the same period last year.

Net equity capital investments grew by 90.2 percent to reach US$261 million from US$137 million in 2017. This was on account of the 60.6 percent increase in equity capital placements to US$278 million coupled with the decline in withdrawals by 52.3 percent to US$17 million.

Equity capital placements were sourced primarily from Singapore, Taiwan, the United States, Korea and Japan. (PR)