Referring to the year-to-date tally, Bank of the Philippine Islands Vice President and lead economist Emilio Neri Jr. said it might be difficult for the Philippines to duplicate the FDI performance in the first half of 2016.
On record, FDI in the first six months of 2016 surged 94.9 percent to $4.2 billion from $2.2 billion.
“FDI in first-half 2016 was quite strong and may be difficult to duplicate in first-half 2017,” he told The Manila Times.
However, Neri said “investments from China may help propel a recovery in the second half of 2017.”
Neri’s outlook is consistent with an earlier statement by a trade official who said five Chinese companies intend to invest a combined $10.3 billion in the Philippines.
Trade Undersecretary for Industry Development and Managing head of the Board of Investments (BoI), Ceferino Rodolfo said at the time, the companies have submitted letters of intent to the BoI signifying keen interest in exploring business opportunities in aviation, oil downstream, renewable energy, iron and steel, and shipbuilding and repair.