Foreign investments in agri falls by 96% in first 7 months of 2016
Foreign direct investments in agriculture plummeted by 96 percent in the first seven months of the year, data from the Bangko Sentral ng Pilipinas show.
According to the BSP, foreign direct investments in agriculture, fisheries and forestry amounted to just $10,000 in the first seven months of the year, down from $310,000 in the same period in 2015.
Much of the foreign direct investments went into financial and insurance activities, with investments in the sector amounting to over $1 billion or about two thirds of total direct foreign investments in the seven-month period.
The BSP said reported a 79-percent increase in foreign direct investments in the seven-month period, “driven by investors’ positive outlook on the Philippine economy, reinforced by strong macroeconomic fundamentals.”