FDI from China surged to $ 319.2 million in first 9 months of FY 22-23
ISLAMABAD, May 4 (Gwadar Pro) - Pakistan has received $319.2 million as Foreign Direct Investment (FDI) from China in the first nine months of Fiscal Year 2022-23, according to the Board of Investment (BOI) Pakistan’s data.
The latest official data shows that during February and March 2023, Pakistan received another $119 million from China,bringing the total FDI from the friendly neighbouring country to $319.2 million. From July to November 2022, FDI from China was recorded as $102 million; however, during the next four months (between December 2022 and March 2023) China poured another $217.2 million into different sectors in Pakistan.
During the first nine months of Fiscal Year 2022-23, Pakistan has received $ 1,048.4 million (around $1.05 billion) FDI from different countries of the world. China is the top investor in Pakistan with a 30.44% share.
As per BOI’s statistics, in the current fiscal year, Japan is the second largest investor in Pakistan with $157.3 million followed by Switzerland with $123.1 million, the U.A.E with $102.6 million, the U.S. with $59.9 million, Netherlands with $53.8 million, U.K. with $45.6 million, Turkey with $16 million and Italy with $8.6 million while $94 million have been invested by others countries of the world.
Pakistan has received the highest $460.1 million in the power sector from different countries of the world. The power sector is followed by the Financial Business with $248.2 million, Oil & Gas with $116.2 million, trade with $33.7 million, chemicals with $33.5 million, transport with $25.8 million, and the textile sector receiving $13 million FDI.
In FY 2021-22, China was the leading investor in Pakistan with $531.6 million which was 28.47% of the total FDI Pakistan received from different countries of the world.
Similarly, in FY 2020-21, Pakistan received $751.6 (41.3%) million FDI from China while in FY 2019-20 and FY 2018-19, the FDI from China was $130.8 million and $13.119 million respectively.