November 21, 2023 (MLN): China emerged as the largest investor in Pakistan in October 2023, with a net direct investment of $31.74 million, followed by the United Kingdom and Singapore which invested $19.5m and $19.4m respectively, according to the data issued by the State Bank of Pakistan (SBP).
During July-Oct FY24, China remained the largest investor, followed by Hong Kong and the United Kingdom with net FDI of $158m, $106.5m, and $64.18m respectively.
It is pertinent to note that the total FDI in 4MFY24 stood at $524.72m, up by 7.11% or $34.82m YoY compared to FDI of $489.9m in 4MFY23.
Despite China holding the majority proportion (30%) of direct investments in the country during 4MFY24, the investment has decreased substantially by 16.88% YoY when compared with the figure of $190.14m in 4MFY23.
Hong Kong’s contribution in net FDI stood at $106.5m (20.30%) in the 4MFY24, up by 2.03x YoY compared to $52.39m in SPLY.
The third major investor during 4MFY24, the UK’s share was 12.12% with a direct investment of $64.18m, down by 20.81% YoY.
Other important investors were Netherlands, U.S., and Switzerland with a net FDI of $55.8m, $34.6m, and $33.2m respectively during 4MFY24.
The Foreign Portfolio Investment (FPI), which represents an investment in the equity market showed a positive picture, as net FPI inflows during October stood at $1.38m.
Likewise, on a cumulative basis, FPI showed an investment of $10.9m during 4MFY24, against a divestment of $14.8m in 4MFY23.
The US emerged as the biggest portfolio investor during the month, as it invested $3.7m during the month and $27.9m during 4MFY24.
The total foreign investment in the review month clocked in at $126.79m, compared to $137.64m in October 2022, down by 7.88% YoY.
On a cumulative basis, within 4MFY24, total foreign investment increased by 17.81% YoY to $538.81m as compared to FDI of $457.34m reported in the corresponding period last year.
Copyright Mettis Link News
Posted on: 2023-11-21T12:25:37+05:00
