Fear over Covid strains drags net foreign direct investments

By Mayvelin U. Caraballo

Aug 10, 2021 6:49 pm

THE Bangko Sentral ng Pilipinas (BSP) said renewed investor fears about the spread of new coronavirus disease 2019 (Covid-19) strains around the world pulled net inflows of foreign direct investments (FDIs) to a one-year low in May.

Inflows fell by 25.4 percent to $429 million in the sixth month of 2021, compared to $575 million a year earlier, according to central bank numbers released on Tuesday. The amount is the lowest since April of last year, when it was $317 million.

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