The Philippine economy continues to attract more foreign investors that led net foreign direct investments to rise to $1.56 billion in the first quarter of 2017, up 16.6 percent from year ago's $1.3 billion.
Data released by the Bangko Sentral Tuesday showed investments in debt instruments boosted the inflows by 108.8 percent to $1.27 billion from $606 million same period last year.
Re-investment of earnings went up 6.7 percent to $193 million from year-ago's $181 million.
"The sustained FDI inflows reflect investors' confidence in the country's economy on account of continued growth prospects and strong macroeconomic fundamentals," the BSP said.
However, placements in equities fell 70.8 percent to $191 million while withdrawals declined 12.8 percent to $91 million.
This resulted in net equity capital investment of $101 million, down 81.7 percent.
Last March alone, net FDIs rose 30.6 percent to $509 million from year-ago's $390 million.
Investments in debt instruments rose 75.1 percent to $445 million from the $254 million same period in 2016.
Equity capital, which mostly came from the US, Japan, Singapore, Hong Kong, and the Netherlands, amounted to $49 million while withdrawals reached $42, resulting to a net of $7 million.
Availment in the facility in the first five months this year is lower than the P10.64 billion same period in 2016.