Philippine '10 net FDI flows seen $1.7 bln-sources - News

Runway Angels
The superbowl of fashion shows, models walk down the runway at the 2009 Victoria's Secret Show.
Smartphone Guide
Here's a need-to-know guide to nine devices, based on features, price, network and platform.
Wines for the Holidays
Not quite sure what wine to pair with Turkey or Creme Brulee? Our experts do.

FEATURED QUIZZES

How Well Do You Know Your Bird?
Let's talk turkey. Test your turkey knowledge and perhaps pick up a bit of trivia to trot out at your holiday meal.
A Healthier & Wealthier You
Take the following quiz and find out how much you know about the impact of obesity on the health of the U.S. economy.
The Billionaire BFF's
Philanthropists. Bridge partners. Hockey players. Which responses are based on facts from Buffett's and Gates' real lives?

SPECIAL REPORTS

Winterizing Your Portfolio
If 2009 was the winter of our discontent, will 2010 be a winter wonderland for investors? A lot depends on the recovery—or lack thereof.
Investor's Guide to Real Estate
Some even say the long-awaited recovery is here. Regardless, buyers and sellers alike can profit from our guide.
Alternative Investing
Stocks and bonds? Sure. But it's a big world out there for investors.

CNBC ON DIGG

Philippine '10 net FDI flows seen $1.7 bln-sources

By: AFX | 15 Nov 2009 | 08:15 AM ET

Text Size

MANILA, Nov 15 (Reuters) - The Philippine central bank has forecast that net foreign direct investment (FDI) in the country will reach $1.7 billion next year, higher than the $1.5 billion predicted for 2009, government sources said at the weekend. The central bank based the 2010 FDI estimate on an expected improvement in the economy, which should attract foreign inflows into the Southeast Asian country, sources at the Development Budget Coordination Committee (DBCC) said. The DBCC is an inter-agency body in charge of setting the government's economic and fiscal targets. Manila expects GDP growth of 2.6-3.6 percent in 2010, better than this year's target of 0.8-1.8 percent. The Philippines' net foreign direct investments, along with remittances from Filipinos working and living overseas, help boost its balance of payments, which is expected to reach a surplus of $4-5 billion this year and $3-4 billion next year. FDIs in the eight months to August totalled $1.28 billion, up 30.5 percent from last year. The Philippine central bank has raised its forecast for net FDI flows this year to $1.5 billion, more than double its original estimate of $700 million. (Reporting by Karen Lema, Editing by Ron Popeski) ((karen.lema@thomsonreuters.com; +632 841-8938; Reuters Messaging: karen.lema.reuters.com@reuters.net)) Keywords: PHILIPPINES ECONOMY/FDI (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.

The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.

Tools: