Foreign direct investments fall 20% in January

The Bangko Sentral ng Pilipinas (BSP) headquarters in Manila. —INQUIRER FILE PHOTO

MANILA, Philippines — Foreign direct investments (FDI) continued to decline in January amid global uncertainties that made investors rethink their expansion plans.

FDI net inflows amounted to $731 million in January, declining by 20 percent year-on-year, the Bangko Sentral ng Pilipinas (BSP) reported.

The BSP attributed the sharp decline to a 37.7 percent slump in inter-company borrowings between multinational firms and their local affiliates to $519 million.