DTI chief highlights foreign investments surge
==========
The Department of Trade and Industry (DTI) highlighted the positive trend in foreign direct investments (FDI) for January 2024, with net inflows reaching US$907 million, an 89.9% growth compared to January 2023. The increase was driven by investments in manufacturing, real estate, construction, and wholesale and retail trade sectors. This marks the third consecutive month of expansion, following growth of 28% in November and 30% in December. DTI Secretary Fred Pascual stated that the surge in FDIs reflects the confidence and trust the global business community has in the Philippines' economic potential. The upward trajectory is primarily driven by a 173.2% increase in nonresidents' net investments in debt instruments, reaching US$820 million. Reinvestment of earnings also saw a positive trend, rising by 16.4% to US$99 million. Although net equity capital placements saw a slight outflow of US$11 million, equity investments primarily came from Japan and the United States. The DTI aims to attract significant investments in key sectors and high-growth industries to create a more robust and resilient economy. The announcement comes ahead of the Trilateral Economic Ministers Meeting scheduled for April 11, 2024, in Washington, D.C., which aims to explore new trade and investment avenues. The meeting will include US Commerce Secretary Gina Raimondo, Japan’s METI Minister Ken Saito, and DTI Secretary Fred Pascual. The Philippines is focused on enhancing its investment climate and expects the trilateral meeting to unlock further trade and investment opportunities. The government aims to improve infrastructure, upskill workers, ensure environmental sustainability, and invigorate the private sector with meaningful initiatives.
https://www.sunstar.com.ph/davao/dti-chief-highlightsforeign-investments-surge
SunStar Philippines /
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2024-04-11 05:51:21
Author Public Key
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2024-04-11 05:51:21Event JSON
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"content": "DTI chief highlights foreign investments surge\n==========\n\nThe Department of Trade and Industry (DTI) highlighted the positive trend in foreign direct investments (FDI) for January 2024, with net inflows reaching US$907 million, an 89.9% growth compared to January 2023. The increase was driven by investments in manufacturing, real estate, construction, and wholesale and retail trade sectors. This marks the third consecutive month of expansion, following growth of 28% in November and 30% in December. DTI Secretary Fred Pascual stated that the surge in FDIs reflects the confidence and trust the global business community has in the Philippines' economic potential. The upward trajectory is primarily driven by a 173.2% increase in nonresidents' net investments in debt instruments, reaching US$820 million. Reinvestment of earnings also saw a positive trend, rising by 16.4% to US$99 million. Although net equity capital placements saw a slight outflow of US$11 million, equity investments primarily came from Japan and the United States. The DTI aims to attract significant investments in key sectors and high-growth industries to create a more robust and resilient economy. The announcement comes ahead of the Trilateral Economic Ministers Meeting scheduled for April 11, 2024, in Washington, D.C., which aims to explore new trade and investment avenues. The meeting will include US Commerce Secretary Gina Raimondo, Japan’s METI Minister Ken Saito, and DTI Secretary Fred Pascual. The Philippines is focused on enhancing its investment climate and expects the trilateral meeting to unlock further trade and investment opportunities. The government aims to improve infrastructure, upskill workers, ensure environmental sustainability, and invigorate the private sector with meaningful initiatives.\n\n\n\nhttps://www.sunstar.com.ph/davao/dti-chief-highlightsforeign-investments-surge",
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