FDI net inflows into Philippines post growth for 3rd consecutive month in July

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MANILA, Oct. 12 (Xinhua): Foreign direct investment (FDI) net inflows into the Philippines sustained its growth momentum in July amid the Covid-19 pandemic, registering an increase of 35.2 per cent year-on-year to US$797 million from US$590 million in the same period last year, the Philippine central bank said on Monday.

"The FDI net inflows rose for the third consecutive month on the back of investors' improving sentiment due in part to easing of (COVID-19) containment measures, and some signs of gradual improvements in economic activity based on high-frequency indicators," Bangko Sentral ng Pilipinas (BSP) said in a statement.