(MENAFN) Central bank data showed that Philippine's foreign direct investment (FDI) stood at USD403 million in May, marking a drop of 6.8 percent on-year on a plunge in reinvestment of earnings.
Net equity capital investments doubled in May, reaching USD160 million from USD75 million on-year, particularly, equity capital placements of USD181 million surpassed USD20 million.
Reinvestment of earnings dropped to 15.6 percent to USD52 million, while non-residents' investments in debt instruments issued by local affiliates reached USD191 million, 35.6 percent lower from May 2014.
In the January-May period, FDI registered net inflows of USD1.6 billion, marking a decline of 41.9 percent than the USD2.8 billion registered during the same period last year.
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