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The Philippines attracts more foreign investors
May 11, 2012
Foreign direct investment rose 154 per cent in the Philippines in January and February to US$850 million.
The increase in capital flow came primarily from the United States, Australia, Japan and Kuwait.
The Philippine central bank claims foreign investment went into local manufacturing ventures in the wholesale and retail trade, real estate, finance and insurance services, mining and quarrying as well as information and communication according to PhilStar.
The increase in foreign investment highlights the strength of the country for investment opportunities compared to certain parts of Europe.
"The respectable growth of foreign direct investments reflect favorable investor sentiment as the country's macroeconomic fundamentals remained strong amidst continuing concerns over the sovereign debt crisis in some parts of Europe and the moderation in global economic activity,” said the central bank.