ISLAMABAD, Jan. 18 (ABC): Pakistan secured USD 56.9 million in foreign direct investment (FDI) from China in December 2023, contributing to a cumulative Chinese investment of USD 292.8 million in the first six months of FY 2023-24.
Gwadar Pro reported this on Thursday quoting the latest statistics from the State Bank of Pakistan.
In the corresponding period of FY 2022-23, Pakistan received USD 333.1 million in FDI from China.
In December, China retained its position as the leading investor in Pakistan by injecting USD 56.6 million, constituting 23.4% of the total USD 243.3 million investments received by the country from various nations worldwide.
Similarly, China’s FDI accounts for 32% of the total USD 933.7 million FDI that Pakistan attracted in the July-December period of FY 2023-24.
The sectors attracting FDI include Power, Construction, Oil & Gas exploration, Textile, Trade, Transport, Communication, Information Technology and others.
In July-December FY 2023-24, Pakistan received USD 191.1 million from China’s Hong Kong, USD 127.9 million from United States, USD 120.7 million from the United Kingdom, USD 69.3 million from the Netherlands, USD 23.4 million from Singapore, USD 22.8 million from UAE.
Besides this, USD 20.5 million from Switzerland, USD 18.5 million Malaysia, USD 17.5 million from South Korea, 14.9 million from France, USD 12.3 million from Bahrain, USD 11.5 million from Lebanon, USD 9.7 million from Turkey, USD 8.8 million from Kuwait, USD 6.5 million from Panama, USD 5.8 million from Malta, USD 5.1 million from Italy, USD 5 million from Germany, USD 4.5 million from Canada. And around the rest of the FDI came from other countries.