Thursday, August 17, 2017 - 13:10:30

Philippines expects 4 billion USD in FDI attraction this year

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The Foreign Direct Investment (FDI) inflow into the Philippines is estimated to increase by 40 percent, reaching 4 billion USD this year, according to Xinhua news agency, quoting an announcement of the Filipino Trade Department on November 5.

In 2011, the country saw at least 1.8 billion USD in FDI, and the figure rose by 55 percent to 2.8 billion USD in 2012.

Despite the high projection, the department expressed concern that multinational corporations that have set operations in the Philippines are expanding, not via foreign direct investment but through domestic funding.
There are over 1,000 foreign companies operating in the Philippines but only a fifth of them have publicly declared their investment and the source of it.-VNA
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