RP's foreign investments up

RP's foreign investments up

MANILA (AFP): Net foreign investments in the Philippines in the first half of 1996 rose 178 percent over the same period last year to US$1.6 billion, documents released here yesterday.

Net foreign investments, as listed in the documents from the Central Bank of the Philippines, measures the inflow of investments into this country minus the outflow of investments abroad.

Total foreign investments in the Philippines in the first half of 1996 rose 96 percent over the same period in 1995 to $5.399 billion, the documents said.

Meanwhile Philippine investments abroad in the first semester of 1996 rose 73 percent over last year to hit $3.79 billion.

Of the total $1.6 billion in net foreign investments in the first half of 1996, 68 percent consisted of portfolio investments while 32 percent consisted of direct investments.

Net direct foreign investments in the first half of 1996 had risen by 32 percent over the same period last year while net portfolio investments had risen by 470 percent.