Energy sector received the most investment followed by the communications industry
The State Bank of Pakistan said that the foreign direct investments (FDI) in fiscal year 2019-20 jumped by 88% to $2.56 billion from $1.36 billion in the previous year. The rebound took the FDIs close to the level of fiscal year 2017-18, when it stood at $2.78 billion.
These numbers show a good picture of investor confidence from abroad, especially taking into account the effects of the novel coronavirus. June investments clocked at $174.8 million, an over 70% increase from the $102.5 million in the prior year period. It was also a considerable increase month over month, with an approximately 46% jump from May.
China tops in investments
China remained the top investor with $844 million during the year. It was a significant increase from the $131 million in the previous fiscal year. These investments are mostly associated with the CPEC projects underway in the country. It was followed by Norway who invested a sizeable $402 million. Norway’s investment in the prior fiscal year was $116 million.
Other main investors were Malta with $222.2 million, the Netherlands with $133.2 million, and the United Kingdom with $117.3 million and the United States with $97 million.
Most investments in the energy sector
The highest investments were made in the energy sector clocking at $764.3 million. Other sectors with significant investments were communications with $663.9 million, and oil and gas exploration sector with $311.4 million.