Foreign Direct Investment Jumps 238.7% In 4 Months
Sumaira FH 3 months ago Mon 18th November 2019 | 11:56 PM
The Foreign Direct Investment (FDI) in Pakistan stood at US $650 million in first four months of current fiscal year July-Oct (2019-20) compared to the investment of $191.9 million recorded during same period, a year ago, showing a growth of 238.7%.
On year-on-year basis, the FDI also increased to $108 million in October 2019 against negative $367.5 million recorded during the same month of previous year, according to the data released by State Bank of Pakistan (SBP) on Monday.
The country-wise data shows that net foreign investment from China posted a growth as it rose to $122 million during the period under review compared to the investment worth of negative $149.8 million recorded during same period of last year.
The foreign investment from Norway recorded a big increase as it rose to $263.7 million in July-October 2019-20 compared to investment of negative $39.4 million in same period of last year.
Investment from United States edged down to $30.7 million in first four months of current fiscal year against investment worth of $31.7 million in same period of last year while foreign investment from United Kingdom also decreased from $86.
8 million to $56 million in four months of the year 2019-20.
Likewise the FDI from United Arab Emirates also declined to $8.9 million in Jul-Oct (2019-20) from $41 million last year, whereas investment from Turkey recorded a slight decline as it went down from $16.5 million to $16.2 million in corresponding period of current fiscal year.
From Switzerland, the FDI increased to $14 million as compared to the investment of $7.5 million during the same period of the preceding year, whereas investment from Malaysia also increased to $33.8 million in the period under review compared to the investment of $10.1 million last year.
Investment from Saudi Arabia also increased from $6.4 million last year to $4.5 million during July-Oct 2019-20.
Netherlands invested $14 million during the corresponding period of current year against the investment of $15.4 million during the same period last year.
Investment from Hongkong also decreased to $2.4 million in July-Oct (2019-20) against the investment of $44.5 million made during same period of last year, whereas Germany's investment rose to $20.2 million this year from $9.1 million last year.