By Kris M. Crismundo
MANILA, July 27 (PNA) — Investment inflows from foreign and domestic firms increased during the past five years of the Aquino administration.
President Benigno S. Aquino III, during his sixth and last State of the Nation Address (SONA) on Monday, said net foreign direct investments (FDIs) in the country in 2014 reached US$ 6.2 billion from US$ 1.07 billion in 2010.
Net FDI surged by almost 500 percent from 2010 to 2014.
On the other hand, domestic investments become upbeat during the current administration, the Chief Executive said.
He mentioned that when his administration started in the third quarter of 2010 up to end-2014, domestic investments amounted to Php2.09 trillion from Php1.24 trillion in 2003 to 2010 period.
The upbeat investment inflows in the country, President Aquino said, was pushed by developments in the national economy such as gaining investment grades from global investment rating institutions which translates that the Philippines a good investment destination with lower risks to businesses.
He also mentioned that the country has further climbed in the Global Competitiveness Index rankings and is now called as “Asia’s Rising tiger” and “Asia’s Rising Star”.
“Lahat ng ito ay direktang resulta ng pagsulong ng reporma sa daang matuwid,” President Aquino said. (PNA)