Pakistan registers 91% growth in foreign direct investment – Gulf Today

Pakistan registers 91% growth in foreign direct investment – Gulf Today

Pakistan registers 91% growth in foreign direct investment

9 hours ago

A woman walks past mannequins kept on display outside a cloth shop at a market in Lahore on Monday. Agence France-Presse

The overall 91 per cent growth in Foreign Direct Investment (FDI) in Pakistan got major support from an increase in Chinese investment, mainly in power projects under the frame of China-Pakistan Economic Corridor (CPEC).

In the first 11 months of FY20, China was the largest investor with net investment of $855.6 million.

As we talk about the sectors investment, the communication sector, mostly the 3G/4G service providers, attracted the largest foreign investment of $73.5 million in May 2020, followed by oil and gas exploration firms $18.6 million and financial businesses $15.5 million, a renowned Chinese scholar Prof. Zhou Rong said.

The flow of foreign investment in future depends on the unfolding COVID-19-related events like the second and third waves of infections, controlling the crisis and introducing the much-awaited vaccine, Prof. Zhou, Senior Fellow of Chongyang Institute for Financial Study of Renmin University said in his article published by China Economic Net (CEN).

The return of stability to the financial health of global firms is a must to attract new foreign investment in Pakistan and