December 18, 2023 (MLN): China emerged as the largest investor in Pakistan in November 2023, with a net direct investment of $74.65 million, followed by the United Kingdom and HongKong which invested $23.87m and $22.65m respectively, according to the data issued by the State Bank of Pakistan (SBP).
During July-Nov FY24, China remained the largest investor, followed by Hong Kong and the United Kingdom with net FDI of $232.7m, $129.2m, and $88.1m respectively.
It is pertinent to note that the total FDI in 5MFY24 stood at $656.1m, up by 8.1% YoY compared to FDI of $606.9m in 5MFY23.
Despite China holding the majority proportion (35.47%) of direct investments in the country during 5MFY24, the investment has decreased substantially by 7.08% YoY when compared with the figure of $250.4m in 5MFY23.
Hong Kong’s contribution in net FDI stood at $129.2m (19.69%) in the 5MFY24, up by 50.37% YoY compared to $85.9m in SPLY.
The third major investor during 5MFY24, UK’s share was 13.42% with a direct investment of $88.1m, down by 13.54% YoY.
Other major important investors were the United States, Netherlands and Switzerland with a net FDI of $44.1m, $41.8m, and $33.3m respectively during 5MFY24.
The Foreign Portfolio Investment (FPI), which represents an investment in the equity market (both direct and indirect) during November stood at $24.6m.
On a cumulative basis, FPI showed an investment of $38.7m during 5MFY24, against a divestment of $31.4m in 5MFY23.
The US emerged as the biggest portfolio investor during the month, as it invested $26.8m during the month and $35.7m during 5MFY24.
The total foreign investment in the review month clocked in at $156m, compared to $118.14m in November 2022.
On a cumulative basis, within 5MFY24, total foreign investment increased by 20.73% YoY to $694.8m as compared to FDI of $575.5m reported in the corresponding period last year.
Copyright Mettis Link News
Posted on: 2023-12-18T15:15:12+05:00
