The rising foreign direct investments in the country could be partly traced to the Rody Duterte administration’s effective campaign against corruption and criminality, the Finance Department said over the weekend.
Net inflows of foreign direct investments jumped 43.5 percent year-on-year to $2.2 billion in the first quarter, indicating the sustained strong investor confidence in the country’s macroeconomic fundamentals.
FDI net inflows reached $682 million in March, up 27 percent from $537 million recorded in the same month in 2017.
“These are actual investments that flowed into our economy that helped create jobs and fueled growth. We should be more concerned with FDIs that are delivering economic benefits to the people, rather than pledges,” Finance assistant secretary Paola Alvarez said.
Alvarez said the increase in FDI inflows “is testament to the strong vote of confidence by investors in the economic strategy of the Duterte administration, which is anchored on an aggressive spending program on infrastructure and human capital development to achieve inclusive growth.”
Finance Secretary Carlos Dominguez III earlier said President Rodrigo Duterte made the country a safer place for investors, with his campaign against corruption and criminality leading to a decrease in crime volume by 21.86 percent since the start of his administration.