By IRIS C. GONZALES

The Philippines attracted the lowest level of foreign direct investments among Southeast Asian countries last year, according to a Department of Finance study quoting data from the United Nations Conference on Trade and Development (UNCTAD).

The study noted that the Philippines attracted only $2.5 billion in FDIs while Singapore attracted $36.9 billion followed by Vietnam with $11.3 billion.

Thailand also beat the Philippines, attracting $10 billion in FDIs while Malaysia attracted $9.4 billion in FDIs.

Indonesia recorded $5.9 billion in FDIs last year. At this level, the study said that FDIs in the Philippines grew by only 4.3 percent from the 2006 level.

The country’s growth rate stood below the growth rate of its peers in the region such as Singapore (52.6 percent); Vietnam (36.4 percent), Malaysia (54.4 percent) and Indonesia (6.3 percent).

Only Thailand posted lower growth compared to the Philippines, with only 2.3 percent.

The Bangko Sentral ng Pilipinas, said net foreign direct investments are expected to reach $3.4 billion this year.

The BSP said direct investors are expected to take advantage of the country’s economic growth momentum as well as the growth in the region this year.

FDIs benefit the countries through capital formation and are usually favored over portfolio investments which tend to be volatile.