Net foreign direct investments (FDI) in the Philippines fell 59 percent to $350 million in February from $854 million in the same month last year due mainly to a sharp drop in equity capital investments and lower inter-company borrowings, based on official data.

As a result, net FDI in January and February amounted to a cumulative $1.4 billion, down 24.7 percent from the same period last year, according to data released by the Bangko Sentral ng Pilipinas (BSP) on Monday.

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