MANILA, Jan. 11 (Xinhua) -- The Philippine government vowed Saturday to further level the playing field in the country to attract more foreign direct investments (FDI) as the central bank reported an increased FDI last year.
Philippines' Deputy Presidential Spokesperson Abigail Valte said despite the increased figure showed that some areas of the Philippine business climate have improved, the Aquino administration will focus on areas that need further improvement when it comes to both foreign and local investments.
"The president has always emphasized the need for a level- playing field when it comes to foreign or local investments," she said.
"Those who are already here, who are seeking to expand and those who are outside but would want to place their investments here would see that they will get a pretty level-playing field," she promised in an interview at state-run radio station.
The Bangko Sentral ng Pilipinas (BSP) on Friday said it registered net FDI of 3.36 billion U.S. dollars for the first 10 months of 2013, up 35.3 percent compared to the same period in 2012 of 2.485 billion dollars.
The BSP said in a statement that foreign investors continue to have confidence in the sustainability of the Philippine's business environment.
The notable rise in foreign investments reflects favorable investor sentiment, the BSP said noting that macroeconomic stability is believed to be firmly rooted in the country's basic fundamentals.