FDI into the Philippines decreased by 3.9% YoY in June, totaling USD 484 mln, bringing the FDI net inflows for the first half of 2023 to USD 3.9 bln, a 20.4% drop compared to the same period in 2022, particularly due to reductions in non-residents’ net investments in equity capital and their reinvestment of earnings. The central bank attributed this slowdown to investor apprehension about “weak growth prospects amid persistent global uncertainties.”