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FOREIGN
direct investments (FDIs), seen originally as net
outflow in 2007, flowed inward instead on net basis in
the first 11 months to $1.9 billion, the Bangko Sentral
ng Pilipinas (BSP) said on Monday.
This was
an increase of 33.8 percent over FDIs for the same
period in 2006 that totaled only $1.4 billion.
In gross
terms, the FDIs grew 16.4 percent to $2.1 billion and
were placed as equity in manufacturing, services,
construction, mining, real estate, financial
intermediation and agricultural industries.
These
benefited manufacturers of electronic products, health
and chemical products, international courier firms,
information-technology developers, multimedia service
providers and others.
The
funds originated from the United States, Japan, South
Korea, Hong Kong, Malaysia, Germany and the United
Kingdom.
So-called intercompany transactions reflecting loans
given by overseas parent firms to subsidiaries in the
Philippines posted net cumulative outflow of $345
million as local subsidiaries paid back loans owed from
parents.
Such
transactions also posted net outflow in November
totaling $24 million.
Reinvested earnings, or income plowed right back into
the business, also showed net inflow totaling $334
million in 11 months, the BSP said. |
