The net inflow of foreign direct investments (FDIs) declined for the second straight month, tumbling to an over four-year low of $368 million in September amid persistently high interest rates and heightened geopolitical tensions, according to the Bangko Sentral ng Pilipinas (BSP).
The net FDI inflow fell by 36.2 percent in September from $577 million in the same month a year ago. It marked the lowest since the $314 million in April 2020.
John Paolo Rivera, senior research fellow at the Philippine Institute for Development Studies, said elevated interest rates globally, led by the US Federal Reserve, have made investments in emerging markets like the Philippines less attractive.
"Investors often prefer safe-haven assets in advanced economies under these conditions. Heightened geopolitical tensions and economic uncertainties may have also further dampened investor confidence globally," he said.
This story is from the December 11, 2024 edition of The Philippine Star.
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This story is from the December 11, 2024 edition of The Philippine Star.
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