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Philippines FDI in top $419mn in July
October 11, 2007
FDI in Philippines top $419mn in July
Foreign direct investment in the Philippines reached 419 million dollars in July, reversing a net outflow of 79 million dollars in the same month last year, the central bank said Wednesday.
Central bank governor Amando Tetangco attributed the improvement mainly to increased lending between foreign companies and their Philippine subsidiaries and affiliates.
The inflows in July brought net FDI for the first seven months of the year to 1.6 billion dollars, 68 percent higher than for the same period last year.
"The strong year-to-date FDI performance was traced to the marked improvement in net foreign equity capital inflows to 1.7 billion dollars from only 589 million dollars in the comparable period last year," Tetangco said in a statement.

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