Pakistan’s FDI increases by 32% in April

ISLAMABAD: Despite a global economic crisis caused due to the outbreak of COVID-19 pandemic, Pakistan’s Foreign Direct Investment (FDI) has jumped by 32% and recorded at $133.2 million in the month of April, announced the State Bank of Pakistan.

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Various industries especially the ongoing projects in the telecommunication, power, and chemical sectors were the main areas where the multinational companies (MNCs) have poured in investments.

Even though China is a major investor in Pakistan, Pakistan experienced an influx of fresh FDI from new companies of various countries.

Hong Kong emerged as the largest investor with net FDI of $28.4 million in April 2020, followed by the Netherlands investing $24.5 million, the US with $22.5 million, Malta $18.5 million, and the UK investing $10.5 million.

A large sum of FDI recorded at $39.1 million was attracted by the oil and gas exploration sector in April 2020. The financial sector followed with $30.8 million in investments. The communication sector recorded investments at $20 million, the power sector $18.4 million, and chemical sector $14.9 million.

Investors are hopeful to revive economic activities to create a better economic environment with the lockdown slowly lifted and the government’s construction incentive package.  

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