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Foreign investment jumps 24pc in August

Shahzaz ud din

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Foreign investment jumps 24pc in August
Shahid IqbalUpdated 18 Sep 2020
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In the first two months of FY21, the FDI surged 40pc to $226.7m, compared to $162m in the same period of last fiscal year. — Reuters/File

In the first two months of FY21, the FDI surged 40pc to $226.7m, compared to $162m in the same period of last fiscal year. — Reuters/File
KARACHI: Foreign Direct Investment (FDI) jumped 23.5 per cent to $112.3 million in August, up from $90.3m in same month of 2019, reported the State Bank of Pakistan on Thursday.
Month-on-month, the FDI edged lower by $2m or 1.75pc from July’s figure of $114.3m.
In the first two months of FY21, the FDI surged 40pc to $226.7m, compared to $162m in the same period of last fiscal year.
Since the emergence of Covid-19 in March this year, the inflows started falling before the FDI posted an impressive increase of 61pc year-on-year to $114.3m in July.
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Details showed that highest inflow of $85.4m during July-August was noted in the financial business, which attracted just $14m in the first two months of the previous year.
Communications also received $37m during the period under review, as against $44.9m in corresponding months of FY20. Similarly, the FDI in electrical machinery more than doubled to $36.5m, from $15m.
Inflows in the oil and gas exploration sector witnessed $34.3m FDI during the two months, as against $25m in the same period of last fiscal year.
Country-wise, FDI from China stood at a mere $6.6m during July-August, but it still higher than $2.9m recorded in the same period of 2019.
For the last several years, China has been the biggest foreign investor in Pakistan as well as the largest trading partner with the balance of trade heavily skewed in its favour.
Other important investors were the UK and US and the inflows showed no significant improvement. The FDI from the Great Britain came in at $18.6m in 2MFY21, compared to $ 17.4m in corresponding period of last fiscal year while those from latter fell to $14.9m, versus $20.7m.
Lower inflows from the US could be a result of the economic damage caused by the coronavirus outbreak in that country, which has the most cases on record.
The highest FDI of $45m was noted from Norway in July-August, which was significantly higher compared to a negligible $0.1m in the same period of FY20.
Netherlands and Malta showed no significant change as the inflows from the two countries were $39.6m and $37m, respectively during July-August.
The economic environment has relatively improved in Pakistan in terms of foreign investment due to relatively low impact of coronavirus.
Published in Dawn, September 18th, 2020

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ziaulislam

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Good news but still very less we need atleast 1 billion per month to make pace. Soon InShaAllah we will
Why would foreigners come?

We cant provide land, utilities or skilled labor

Govt has failed to identify cheap land, provide utilities or skilled labor

It needs to setup industrial zones where land is cheap aim for areas outside karachi, lahore, around gawadar whole baluchistan coast, so investors dont have to worry about consuming all their money in land & intial capita, then it has to provide utilities& skilled labor

This isnt rocket science..vietnam Bangladesh are doing thia..
 

Bilal.

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Why would foreigners come?

We cant provide land, utilities or skilled labor

Govt has failed to identify cheap land, provide utilities or skilled labor

It needs to setup industrial zones where land is cheap aim for areas outside karachi, lahore, around gawadar whole baluchistan coast, so investors dont have to worry about consuming all their money in land & intial capita, then it has to provide utilities& skilled labor

This isnt rocket science..vietnam Bangladesh are doing thia..
That’s exactly what’s being done:

- Gawadar free zone
- Alama Iqbal SEZ
- Rashakai SEZ
- Dhabeji SEZ
- Lasbela SEZ
- Port Qasim SEZ

and more...
 

Samlee

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Few Days Back Hasan Nisar Said That Pakistan Economy Is Nearing Take Off Stage.Something Tells Me That IK Is Now Going In The Right Direction
 

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