Foreign direct investment reached only $1.2B in Jan-Nov

Posted at 02/11/13 3:11 PM

MANILA, Philippines - Foreign investments in factories and equipment rose just 1 percent in the first 11 months of last year, continuing to raise doubt about foreign interest in the country.

Net foreign direct investment reached only $1.2 billion from January to November. 

The investments were mostly channeled to the manufacturing, real estates, retail, mining and financial sectors.

The bulk of inflows came from the United States, Australia, the Netherlands, Japan and the British Virgin Islands.

FDI, which is put in factories and equipment, is dwarfed by portfolio investment or hot money that is flowing into stocks and bonds helping boost the peso. - ANC