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CAUTION RULES: FDI DIPS 22% TO $7.1B IN JAN-NOV www.businessmirror.com.ph
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Wednesday, February 11, 2026 Vol. 21 No. 122
P25.00 nationwide | 2 sections 24 pages | 7 DAYS A WEEK
By Andrea E. San Juan
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@andreasanjuan
OREIGN investors wary of governance and corruption issues may have chosen caution over pouring their capital into the Philippines, with foreign direct investment (FDI) inflows into the country continuing to plunge in the 11-month period in 2025. While economists said the Philippines has not yet completely lost investor interest, they underscored the importance of putting in place improved governance standards and reforms in boosting investor confidence and sentiment. Data from the Bangko Sentral ng Pilipinas (BSP) showed FDIs fell by 22.1 percent to $7.077 billion in the January to November 2025 period from $9.084 billion in the same period in 2024. In November 2025 alone, the Philippines secured $897 million in foreign direct investments, 0.33 percent lower than the $900 million FDI inflows in November 2024. The $897-million FDI inflows posted in November,however, was the highest in four months, BSP data indicated. According to Jonathan L. Ravelas, senior adviser at Reyes Tacandong & Co., the numbers are signalling that the drop to $7.08 billion in FDI over 11 months shows “foreign investors turned more cautious in 2025, even though November still delivered the highest inflow in four months at $897 million.” “That mix suggests the Philippines hasn’t lost investor interest—sentiment just became more selective,” Ravelas said in a Viber message. He said the decline likely reflects global uncertainty, domestic policy noise, and tougher competition from Asean neighbors. But, Ravelas pointed out, “the November bump signals that when investors see clearer direction and more stability, they begin to re-engage.” “The actionable takeaway is simple: keep reforms credible, reduce uncertainty, and move faster on execution. If the government sustains that clarity, we could turn that November momentum See “FDI,” A2
POLISHING FOR PROSPERITY Framed by coiling golden dragons and towering deities, Gerry Navales, 54, reaches up to clean statues inside the pagoda of the Thai To Taoist Temple—one of the country’s oldest Taoist temples—in Caloocan City on Tuesday, February 10, 2026. A maintenance worker by trade, Navales prepares the sacred space for the surge of devotees expected ahead of the Chinese New Year, tending quietly to centuries of faith before the crowds arrive. NONOY LACZA
DE VENECIA, LONGEST SERVING POST-WAR SPEAKER, DIES AT 89 By Jovee Marie N. Dela Cruz
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@joveemarie
HE family of former House Speaker Jose C. De Venecia Jr., also known as JDV, announced his passing on Tuesday at the age of 89, honoring a statesman whose more than six decades in public life helped shape modern Philippine governance and elevated the country’s role in global peace initiatives. “With heavy hearts, our family announces the passing of our beloved husband, father, grandfather, and patriarch,” the De Venecia family said in a statement. “As we mourn his passing, we give
thanks for a life that helped shape the Philippine Republic—and for a legacy that endures in our laws, our institutions, and our continuing pursuit of peace.” De Venecia served seven terms in the House of Representatives, including five terms as speaker—the longest-serving speaker in the postwar Congress. Over his legislative career, he championed reforms credited with strengthening democratic institutions and expanding economic development. Among the landmark measures he helped author or advance were the Dollar Remittance Program, See “De Venecia,” A5
BSP may brake on rate cuts on Feb. 19 By Andrea E. San Juan
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@andreasanjuan
HE Bangko Sentral ng Pilipinas (BSP) may adopt a “cautious” wait-and-see stance in its upcoming policy meeting to assess external risks, the movement of the Philippine peso, and the strength of demand before delivering further rate cuts. “With inflation still within target, growth slowing but not collapsing, and the Philippine peso remaining sensitive to external developments, BSP has reason to assess first how earlier rate cuts are feeding through credit, spending, and investment,” Philippine Institute for Development Studies (PIDS) Senior Research Fellow John Paolo R. Rivera told the BusinessMirror
in a Viber message on Tuesday. Rivera said a pause would allow the central bank to preserve policy space, manage the volatility of the Philippine peso and avoid “easing too aggressively” while global conditions remain uncertain. However, the state think tank’s senior research fellow said this may just be the central bank taking a breather as it is expected to keep the option open for further cuts later in the year if “growth momentum stays weak.” Rivera explained this after the BSP reported that both bank lending and domestic liquidity grew at a slower pace in December 2025. Rizal Commercial Banking Corporation (RCBC) chief economist Michael L. Ricafort said the 9.2-percent pace of bank lending in December of last year was the
slowest pace in nearly two years or since February 2024 while the 7-percent growth pace of domestic liquidity was the slowest in four months or since August 2025. Rivera said data suggests that “financial conditions are easing, only gradually reflecting cautious borrowing and spending by both firms and households amid lingering uncertainty and softer economic activity.” However, the PIDS senior research fellow noted that this does not necessarily mean BSP rate cuts are not working, but rather, that monetary policy “operates with a lag and transmission weakens when business confidence and investment appetite are subdued.” With inflation at 2 percent and growth slowing, Rivera told this See “BSP,” A5
PESO EXCHANGE RATES n US 58.4430 n JAPAN 0.3750 n UK 80.0435 n HK 7.4787 n CHINA 8.4445 n SINGAPORE 46.2036 n AUSTRALIA 41.4419 n EU 69.6407 n KOREA 0.0401 n SAUDI ARABIA 15.5839 Source: BSP (February 10, 2026)