Foreign direct investment (FDI) net inflows in July 2024 increased by 5.5 percent year-on-year to reach US$820 million from the US$778 million net inflows recorded in July 2023. The improvement in FDI was driven by higher net inflows across all components. Nonresidents' net investments in debt instruments rose by 2.7 percent to US$610 million from US$594 million. Likewise, nonresidents' reinvestment of earnings and their net investments in equity capital (other than reinvestment of earnings) increased by 12.8 percent to US$135 million (from US$120 million) and 16.8 percent to US$76 million (from US$65 million), respectively.

The bulk of the equity capital placements in July 2024 came from Japan, the United States, and Singapore. These investments were channeled to the manufacturing and real estate industries. The July outturn brought the January-July 2024 FDI net inflows to US$5.3 billion, higher by 7.5 percent than the US$4.9 billion net inflows in January-July 2023.