Foreign direct investments (FDI) in the Philippines surged 61.6 percent on year to 202 million U.S. dollars in April, local central bank said Wednesday.

"The continued FDI inflows reflected the favorable investment climate on the back of the country's sound macroeconomic fundamentals," the central bank said in a statement.

Gross equity capital placements rose to 189 million U.S. dollars in the same month, seven times more than 26 million U.S. dollars registered in April 2012. Most of these equity capital investments came from the U.S., United Kingdom, Hong Kong, China and Singapore and went into the finance, property, manufacturing and mining industries.

Reinvestment of earnings totaled 64 million U.S. dollars as foreign investors opted to retain their earnings locally on expectations of sustained strong corporate performance. Endi

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