4 days DOF bullish on long-term investment prospects Inquirer
Despite high COVID-19 cases and a prolonged quarantine, the Philippines' solid macro fundamentals prepandemic remain attractive to foreign investors, the Department of Finance (DOF) said. In an economic bulletin on Saturday, Finance Undersecretary and chief economist Gil S. Beltran said foreign direct investments (FDIs) jumped 35.1 percent to $797 million in July from $590 million a year ago. Beltran said it marked the third straight month of year-on-year increase in FDI inflows, reversing three consecutive months of contraction. However, year-to-date FDIs as of end-July were down 10.9 percent to $3.8 billion, Bangko Sentral ng Pilipinas (BSP) data showed. "Year-on-year decre...Keep ... more