NET foreign direct investment (FDI) flows into the Philippines increased by 64 percent for the month in May, according to the Bangko Sentral ng Pilipinas (BSP) on Wednesday.

According to a statement from the BSP, FDI inflows increased from $452 million in the same month last year to $742 million this year.

The total amount of FDI net inflows from January to May 2022 increased by 18.8 percent to $4.2 billion from the $3.5-billion net inflows reported for the same period in the previous year.

“The year-to-date growth was mainly on account of the increase in nonresidents’ net investments in debt instruments, which muted the decline in net equity capital placements other than reinvestment in earnings,” the BSP said.

The BSP noted that equity capital placements were mostly made from Japan, the United States, Singapore and the Netherlands.

The manufacturing, real estate, technology and communication, transportation and storage industries received most of these investments.