THE Philippines recorded $471 million in net inflows of foreign direct investments (FDI) in June, the Bangko Sentral ng Pilipinas reported on Monday.June’s FDI net inflows went down 51.5 percent from the $971 million net inflows posted in June 2021, the central bank said in a statement.“In June 2022, FDI net inflows declined following the drop in non-residents’ net investments in debt instruments of their local affiliates due to higher repayments during the month. This muted the increase in their net investments in equity capital and reinvestment of earnings,”the BSP said.However, the central bank noted the cumulative total for the first half rose 3.1 percent to $4.6 billion, compared to the $4.5 billion in the same comparable period.“Said cumulative growth was due to the expansion in non-residents’ net investments in debt instruments, which more than offset the decrease in their net placements of equity capital,” it said.Equity capital placements for the month were sourced mostly from Japan, the US, Singapore and Switzerland with investments channeled mostly in manufacturing, real estate, and information and communication industries.