- DDI soared by 12.7% YoY, a significant jump from near zero growth rates in previous quarters. However, a closer look suggests that much of this increase was not broad-based, and driven primarily by government infrastructure projects, as well as a few select sectors such as mining, metals and pharmaceuticals.
- FDI on the other hand, continued its upwards trend and grew by 18.0% YoY last quarter. While manufacturing-related FDI remains quite strong, the main driver of FDI is the primary sector, particularly mining. The impressive gains in the mining sector may be linked to the bottlenecks currently plaguing global supply chains.
- With mobility restrictions likely to corral DDI, investment in the coming months will likely have to rely on government infrastructure projects, as well as FDI, particularly that related to external demand.
