Net FDIs in the Philippines fell by 14.1% YoY to USD 0.9 bln in April, mainly due to concerns over the global economic slowdown and relatively high inflation levels. Net debt instruments dropped by 7.7% YoY, while reinvestment of earnings shrank 19.4%, and equity capital plunged by 33.8%. Japan, the US, and Singapore were the main fund contributors, with investments primarily in manufacturing and real estate.