The immunization campaign against the coronavirus disease 2019 (Covid-19) must be further intensified to entice more foreign investors, Malacañang said Thursday.
This, after foreign direct investments (FDIs) jumped by 20 percent in August, although investors stayed cautious, given the lower reinvestment of earnings and higher equity capital withdrawals.
In a virtual press conference, Roque expressed confidence that the country could attract more foreign investors, once it sustains a strong vaccination turnout.
“Magandang balita pa rin po. Mas dumami po ang dayuhang namumuhunan sa bansa (It’s still good news. More foreigners are investing in the country),” Roque said. “Let us therefore continue to ramp up our vaccination. Palakasin ang pagbabakuna nang sa ganoon po ay makapagbalikbuhay para sa hanapbuhay ang lahat (Let us step up the vaccination efforts to enable all of us to return to work).”
FDI, an investment by a non-resident or foreign direct investor, can be in the form of equity capital, reinvestment of earnings, and borrowings.
FDI net inflows in August rose by 19.8 percent to USD812 million from USD677 million in the same period in 2020, according to the data released by the Bangko Sentral ng Pilipinas (BSP).
The increase in the FDI net inflows was driven by the 38-percent growth in non-residents’ net investments in debt instruments which amounted to USD636 million from USD461 million.
However, foreigners’ reinvestment of earnings contracted 24.7 percent to USD99 million from USD132 million.
Non-residents’ net investments in equity capital also fell by 9.7 percent to USD77 million from USD85 million.
This was due to the rise in equity capital withdrawals by 51.2 percent to USD50 million from USD33 million, which more than offset the increase in equity capital placements by 7.3 percent to USD126 million from USD118 million.
Roque said the Office of the President is now studying the proposal to declare the three-day national vaccination drives as regular holidays to allow more Filipinos to get inoculated against Covid-19.
“Inaasikaso po kung ano ang magiging desisyon ng Office of the President ukol diyan. Mag-aanunsiyo po tayo (We are waiting for the Office of the President’s decision on the matter. We will make an announcement),” he said.
As of Wednesday, a total of 66,816,976 Covid-19 vaccine doses have been administered nationwide.
The Philippine government is aiming to vaccinate at least 15 million Filipinos during the three-day national Covid-19 vaccination program dubbed “Bayanihan, Bakunahan” Day from Nov. 29 to Dec. 1.
The National Task Force Against Covid-19 has asked the Department of Health to issue a circular order declaring Nov. 29 and Dec. 1 as holidays.
November 30 of every year is declared regular holiday to celebrate “Bonifacio Day.”
Source: Philippines News Agency