THE amount of foreign direct investments (FDIs) to the country in November rose 16.9 percent to $869 million from $744 million in the same month last year, according to the Bangko Sentral ng Pilipinas (BSP).
The November FDIs brought to $8.7 billion the 11-month FDI last year, a figure that surpassed the $8-billion projection for 2017.
The November FDIs came mostly from Singapore, Hong Kong, Luxembourg, China and the US.
The investments flowed to manufacturing, real estate, electricity, gas, steam, airconditioning supply, construction, and wholesale and retail trade sectors, the BSP said.
The BSP attributed the rise in FDI during the month to the 13.1 percent expansion in the so-called intercompany borrowings, which reached $604 million in November.
The sustained FDI inflows reflected investors’ confidence to the country, the BSP said.