MANILA - Net inflows of foreign direct investments reached a record $10 billion (P521 billion) in 2017, reflecting the draw of a fast-growing economy on investors, official data released Monday showed.
The total in 2017 was 21.4 percent higher compared to the previous year, the Bangko Sentral ng Pilipinas said in a statement.
"Investors continue to view the country as a favorable investment destination on the back of the country's sound macroeconomic fundamentals and growth prospects," the BSP said.
Net equity capital placements grew 25.9 percent to $3.3 billion, coming mainly from the Netherlands, Singapore, the United States, Japan, and Hong Kong, the BSP said.
These inflows went to the following industries: gas, steam and air-conditioning supply; manufacturing; real estate; construction; and wholesale and retail trade activities.
Net availment of debt, which consists mainly of corporate borrowings, rose 20.7 percent to $6 billion. Reinvestment of earnings rose 9.3 percent to $776 million.
Net FDI inflows in December, however, fell 9 percent to $699 million.