Crane Industry Watch: Philippine FDI down in January

According to the "Philippine Star" (Philstar) reported on April 12, the Philippine central bank data showed that the net inflow of foreign direct investment in the Philippines in January was 819 million US dollars, a contraction of 16% year-on-year. But the BSP expects net FDI inflows to be $11 billion for the full year 2022, up from $10.5 billion last year. Economists from think tank ING Bank said the new outbreak of the virus at the beginning of the year had some impact on investors, but the drop in investment could also be related to concerns about the country's overall economy, such as the country's rising debt problems, inflation and the outlook for medium-term interest rates Wait.

It was reported on April 12 that the Philippine National Economic and Development Agency (Neda) said that without the impact of the epidemic, the Philippine GDP may have reached 22 trillion pesos, which means that the loss caused by the epidemic to the Philippine economy is between 3 trillion pesos and 40,000. between billion pesos. It said that it is now necessary to boost people's confidence in the Philippine economic recovery. Although the number of new cases in Metro Manila continues to decrease, many businesses are still not operating at full capacity. The Philippine government should mobilize resources to promote business and economic recovery, while accelerating the country's digital transformation process and improving the country's ability to withstand shocks.

Dongqi Grue has a deep understanding of the economic changes brought about by the impact of the epidemic in the Philippines. As a professional crane manufacturer in China, Dongqi Crane has rich experience in crane service in the Philippines. The recovery plan is full of expectations. If you have any questions or needs about the crane, you can leave a message on the website or tell us by E-mail: sales010@cranesdq.com

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