(ABS-CBN)
The Philippines has always been a laggard in ASEAN when it comes to FDI or foreign direct investments. FDI inflows were on the rise, peaking at a record high of over $10 billion in 2017, raising hopes for the country finally becoming a preferred destination for offshore investors. But after 2017, it has been all downhill.
FDI inflows climbed to over $10 billion in 2017, before sliding the next year. In 2020, FDI inflows cratered, contracting nearly 25 percent year-on-year to $6.54 billion.
“The disruptive impact of the pandemic on global supply chains and the weak business outlook adversely affected investor decisions in 2020,” the Bangko Sentral ng Pilipinas said.
