FDI inflows slump 25% to $6.54 billion Lawrence Agcaoili © STAR/ File FDI inflows slump 25% to $6.54 billion
MANILA, Philippines The net inflow of foreign direct investments (FDIs) slumped to its lowest level in five years after contracting by 24.6 percent last year as the country continues to struggle to contain the spread of COVID-19 cases, according to the Bangko Sentral ng Pilipinas (BSP).
Data released by the central bank showed net FDI inflows reached $6.54 billion last year, lower than the $8.67 billion booked in 2019. This was the lowest since the $5.64 billion recorded in 2015.
“The disruptive impact of the pandemic on global supply chains and the weak business outlook adversely affected investor decisions in 2020,” the BSP said in a statement.
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FDI inflows slump to lowest in 5 years
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