The Bangko Sentral ng Pilipinas (BSP) reported that foreign investments in the country surged by 143 percent to hit a seven-month high of USD1.64 billion in May this year.
Presidential Spokesperson Harry Roque noted, “we are pleased to announce that the Philippines has maintained again its investor confidence.”
“According to the Bangko Sentral ng Pilipinas, the country’s Foreign Direct Investments net inflows gained a total amount of USD1.64 billion in May 2018, marking a seven-month high since October 2017 with USD 1.92 billion,” Sec. Roque said.
May 2018 foreign investment growth recorded a 142.9 percent increase compared to last year’s 677 million dollars of the same month, according to BSP.
The January to May 2018 recorded a 49 percent increase reaching a total amount of US 4.8 billion compared to last year’s US 3.3 billion of the same period.