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Philippines records FDI growth of 41.5 percent in January

Foreign direct investment (FDI) poured into the Philippines in January grew 41.5 percent year on year to 961 million USD, according to the country’s central bank Bangko Sentral ng Pilipinas (BSP).
Philippines records FDI growth of 41.5 percent in January ảnh 1People with face masks on to avoid COVID-19 infection in Manila, the Philippines, on March 20, 2021 (Photo: Xinhua/VNA)
Hanoi (VNA) – Foreigndirect investment (FDI) poured into the Philippines in January grew 41.5percent year on year to 961 million USD, according to the country’s centralbank Bangko Sentral ng Pilipinas (BSP).

BSP said the FDI increase reflectsinvestors' optimism at the start of the year driven by the gradual reopening ofthe economy under the “new normal” condition, the easing of lockdown measures,and positive news about the rollout of COVID-19 vaccines.

Due to the COVID-19 pandemic’s impact, the Philippine economycontracted 9.5 percent in 2020.

In its recently released World Economic Outlook, theInternational Monetary Fund (IMF) forecast this archipelago nation will grow by6.9 percent this year and 6.5 percent in 2022./.
VNA
#foreign direct investment #FDI #Philippines #Bangko Sentral ng Pilipinas #COVID-19 #new normal #Philippine economy #International Monetary Fund #Vietnamplus #Vietnam News Agency Philippines
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