Despite President Rodrigo Duterte’s negative bashing against the US and other Western allies including the United Nations, the Foreign direct investment (FDI) has spiked in the Philippines. The Bangko Sentral ng Pilipinas (BSP) announced that the FDI has grown 7 percent.
Countries such as Germany, the US, Singapore, South Korea and Japan have contributed to this massive FDI influx with real estate investments. The BSP noted that the international investors are drawn to the positive outlook on the Philippines economy.
Compared to last year’s FDI of $470 million the FDI is now up to $503 million – and Duterte is currently flirting with China in regards to other infrastructure investments, which will only add to the growing pot.
