(MENAFN) The Philippines recorded a 31 percent boost in its foreign direct investments (FDI) from January to August this year, reaching USD7.4 billion.
The amount of the FDI injected into the Philippines comes in comparison to the USD5.7 billion registered last year.
The figures were unveiled in a statement issued on Monday by the Philippine central bank, Bangko Sentral ng Pilipinas (BSP).
FDI net inflows "remained strong amid continued favorable investor sentiment on the Philippine economy on the back of the country's strong macroeconomic fundamentals and growth prospects," the statement said.
FDI saw a 41.2 percent decline in net inflows in August this year, standing at USD752 million from USD1.3 billion seen last year during the same period.
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