MANILA, April 10 (Xinhua) -- Philippines' foreign direct investments (FDI) net inflows increased by 13.2 percent year-on-year to 685 million U.S. dollars in January, the local central bank said Monday.
The Philippine central bank said investors "remain optimistic on the growth potential of the economy backed by strong macroeconomic fundamentals."
FDI inflows went up due to the surge in non-residents' investments in debt instruments, which grew by 122.6 percent to 566 million dollars from the level of 254 million dollars a year ago.
Meanwhile, non-residents' net equity capital placements fell by 82.8 percent to 48 million dollars primarily due to the drop in fresh equity capital infusions.
The major sources of equity capital placements during the month came from Germany, Singapore, Hong Kong, the United States and Japan, the central bank said.
"These were channeled mainly to electricity, gas, steam and air-conditioning supply, construction, wholesale and retail trade, administrative and support service, and financial and insurance activities," it said.
Reinvestment of earnings amounted to 71 million dollars during the period, the central bank added.
