FDI in Philippines up 27pc
Afp, Manila
Foreign direct investments (FDI) in the Philippines rose to 2.35 billion dollars in 2006, a 27 percent increase over 1.85 billion dollars posted in 2005, the central bank announced on Saturday. This was also an improvement over the two billion dollars in foreign direct investments that the government was targeting for last year, the central bank said in a statement. "The FDI inflows were sustained as the country continued to post significant macroeconomic gains in 2006, including a strong external payments position, better than expected fiscal position, and declining inflation," the statement said.
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