Philippine FDI inflows up 65.9%

Foreign direct investment inflows ( FDIs) in the Philippines went up by 65.9 percent on year to 254 million U.S. dollars in October 2013, the central bank said Friday. "The notable rise in foreign investments into the country reflects favorable investor sentiment on the back of the country's stable economy amid challenging global economic conditions," the central bank said in a statement. The bulk of FDIs in October came from the United States, Singapore, Switzerland, and Hong Kong. Foreign investors channeled their money to manufacturing, transportation and storage, financial and insurance, real estate, and mining and quarrying activities. In the 10-month period, the central bank said FDIs went up by 35.3 percent on year to 3.4 billion U.S. dollars. The top foreign investors in January to October came from Mexico, Japan, the United States, British Virgin Islands, and Singapore.