The Bangko Sentral ng Pilipinas reports a reduced net inflow of foreign direct investments (FDI) in March. INQUIRER PHOTO / GRIG C. MONTEGRANDE
MANILA, Philippines — The net inflow of foreign direct investments (FDI) into the Philippines contracted for the fifth straight month in March.
READ: FDI flows to Philippines down 62% in February
This happened amid heightened global uncertainties that prompted multinational firms to rethink their expansion plans.
Net inflows amounted to $498 million, falling by 27.8 percent year-on-year. The Bangko Sentral ng Pilipinas reported this on Tuesday.
READ: Bongbong Marcos’ foreign trips yield P4-T worth of investments
This put the first quarter FDI tally to a net inflow of $1.8 billion, a drop of 41.1 percent.
