China pours highest $696.5 mln as FDI during 8MFY20

March 17, 2020 (MLN): China has emerged as the leading investor by investing $696.5 million (net) as Direct Foreign Investment (FDI), most of which poured in Pakistan’s Power and Telecom sector under China-Pakistan Economic Corridor (CPEC) projects.

According to the latest data released by SBP, during Jul-Feb FY20 net FDI from China increased significantly by 129% YoY as it was $303.7 million (net) in Jul- Feb FY19.

Norway emerged as the second leading country with net FDI of $288.5 million in Jul-Feb FY20, which was 237 times higher compared to just $1.2 million in the same period of last year.

Meanwhile, inflows from Malta were recorded at $148.2 million during eight-month period of FY20 compared to outflow of $93.3 million in the last year.

Hongkong came at number four with net inflows of $105.8 million during the period under review compared to $91.3 million in the same period of last year. while UK brought in investments of $90.9 million (net) compared with $137.4 million in the corresponding period.

Sector-wise, the Power sector received the highest FDI of $575.6 million in the period under review compared to outflow of $294.5 million in the same period of last year.

This was followed by Communication sector where inflows were recorded at $471.8 million compared to outflow of $138.6 million in the previous year. The oil and gas exploration sector also emerged among the fastest growing sectors, witnessed inflow of $177 million compared to $222.5 million in the corresponding period of last year.

Copyright Mettis Link News