‘PH to sustain foreign investment inflow in 2017’
BSP cites young population, sound macroeconomic fundamentals
THE central bank sees continued inflow of foreign direct investments (FDI) into the Philippines in 2017 as the country remains an attractive destination for investors given its young population, vibrant industry sectors and solid macroeconomic fundamentals.
economic growth, which is broadbased. Manufacturing, for instance, is picking up again in addition to the usual sources of growth, like services—this will continue to be an attraction,” Bangko Sentral ng Pilipinas (BSP) Governor Amando Tetangco Jr. said.
Tetangco did not give a forecast
“There is a huge market that can be tapped here in the Philippines. Remember we have an average age of 23.9 years or so, one of the youngest in the region, and foreign investors are taking a closer look at what are the opportunities here, given that we have a growing economy, young and economically active population, and sustained macro- economic conditions,” Tetangco said.
The Philippines received a net FDI 40.7 percent from $5.63 billion in 2015 and surpassing the $6.7 billion projection made for last year by the
BSP Deputy Governor Diwa Guinigundo said last year’s data highlights an important core factor—“that foreign direct inves- tors are taking a more sanguine, the Philippines.”
“So their decision to invest in means that they have studied the macroeconomy, the fundamentals. And they have made the decision that it is worth investing in the Philippines.... so they are more serious investors,” he added.
Guinigundo echoed Tetangco’s optimism that the Philippines will continue to see higher FDI for 2017.
“We have not seen any evidence that the Trump administration has restricted business from coming into emerging markets, including the Philippines,” he said. “I don’t think that FDI -
Last week when the BSP released the 2016 data on foreign direct investment, the Board of Investments (BoI) said business activity in the country reflected sound macroeconomic fundamentals and the international investors.
The foreign investment level in the second semester of last year was almost double than that of - ing the growing foreign investors’ economic policies, and attractive business environment,” Trade Secretary and BoI Chairman Ramon Lopez said.