China leads as Pakistan’s top investor for FY24

WEB DESK: China has emerged as the leading investor in Pakistan for the fiscal year 2024 (FY24), according to data released by the State Bank of Pakistan (SBP).

The country contributed a substantial net foreign direct investment (FDI) of $568.2 million.

Hong Kong and the United Kingdom secured the second and third positions in net FDI, with contributions of $358.51 million and $268.19 million, respectively.

Total FDI for FY24 reached $1.9 billion, marking a 16.88 per cent increase from $1.63 billion in the previous fiscal year.

China’s share of FDI was 29.88 per cent, although this represents a notable decline of 17.95 per cent compared to the $692.52 million invested in FY23. Conversely, Hong Kong’s investment rose by 43.3 per cent year-on-year, reaching $358.51 million, or 18.85 per cent of the total FDI.

The United Kingdom’s investment also saw a slight decrease of 0.61 per cent year-on-year, totalling $268.19 million, which accounts for 14.1 per cent of the total FDI.

Significant investments also came from the United States, Singapore, and Canada, with net FDI of $137.29 million, $100.06 million, and $95.52 million, respectively.

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