RP investment abroad up

Thu, 28 Jul 1994, 00:00 WIB | Source: AFP

MANILA (AFP): Investments by Filipinos in other countries rose
by 864 percent in 1993 due to the liberalization of foreign
exchange regulations, the Philippine Central Bank statistics
office said here yesterday.

Outward investments from the Philippines, both in stock
portfolios and in capital, amounted to US$1.167 billion in 1993
compared to US$121 million in 1992, the Central Bank said.

This was attributed to the government's decision in September,
1992, to allow Filipinos to invest as much as $1 million overseas
without Central Bank approval.

Portfolio investments abroad reached US$1.061 billion while
capital investments reached $106 million in 1993 compared to $115
million in portfolio and $16 million in capital investments
abroad in 1992.

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