MANILA – The country’s foreign direct investments for the first five months of the year dipped by more than 60 percent after jitters over the Euro-zone debt crisis remain among investors.

The Bangko Sentral ng Pilipinas (BSP) said the successful automated elections last May failed to elicit cheers from investors as FDI reached only $446 million at the end of the

five-month spread, from $1.4 billion in the same period last year.

Inflows during the review period came mostly from the U.S., Switzerland, Japan, Netherlands, Singapore and Hong Kong and were invested to the manufacturing, services, real estate, financial intermediation, utilities, mining, and transportation/storage sectors.

Reinvested earnings also recorded net inflows of $70 million, a reversal of the $24 million net outflows posted a year ago.

The BSP expects FDIs to reach $2 billion-mark for the whole year.(Virgil Lopez/Sunnex)