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Foreign Direct Investment surges 78.1pc in five months of FY20

Foreign Direct Investment surges 78.1pc in five months of FY20

ISLAMABAD: Foreign Direct Investment (FDI) in Pakistan surged 78.1pc to $850 million in July-November FY20, as compared to the investment of $477.3 million in the same period of last year.
On a year-on-year basis, however, the FDI decreased to $200.1 million in November 2019 as against $285.4 million in the same month of 2018, according to the data released by State Bank of Pakistan (SBP).
In total, the foreign investment in the country surged by 1,267pc to $2.006 billion in July-November FY20 as compared to the investment of $146.7 million during the same period of last year.
The country-wise data showed that net foreign investment from China rose from it rose from $90 million in 5MFY19 to $141 million during the period under review. Similarly, foreign investment from Norway recorded jumped from a negative $74.2 million to $334 million; investment from the United States increased from a negative $95.2 million to $34.9 million; FDI from the United Kingdom surged from $67.7 million to $100.8 million in the five months of FY20.
Moreover, FDI from Switzerland increased from $3 million to $13.5 million; investment from Malaysia increased from $12.7 million to $35.5 million; the Netherlands invested $23.3 million as compared to $14.7 million in the same period last year; while investment from Germany rose from $19 million to $24.3 million.
On the other hand, FDI from the United Arab Emirates declined from $42 million to $9.9 million; investment from Turkey recorded a slight decline from $23 million to $20 million; investment from Saudi Arabia decreased from $7.2 million to $4.4 million; while FDI from Hong Kong shrank from $44.3 million to $32 million.