Foreign investment declines by 34.65% in Jan
- By Web Desk -
- Feb 18, 2022
KARACHI: Foreign direct investment (FDI) declined by 34.65 per cent year-on-year in January 2022, according to data shared by the State Bank of Pakistan (SBP).
January attracted the foreign investment of $110 million, down 34.65 per cent compared to Jan 2021. The decline was even higher at 49.70pc when compared to December 2021.
Also Read: SBP reserves fall $241 million
The highest inflow was received from China, which clocked in at $53.68 million, followed by $19.68 million from the United States (US).
The country’s energy sector attracted the highest investment of $43.04 million while the communication sector $28.40 million.
Also Read: Pakistani rupee recovers against US dollar
In Jan, Prime Minister Imran Khan launched the Pakistan-China Business Investment Forum to facilitate investment between the two countries.
“We give incentives to Chinese industries and companies to relocate to Pakistan but the problem is that the time taken from an agreement to its implementation is a lot,” Prime Minister Khan had said, addressing the inauguration ceremony in Islamabad.
“The delay disincentivizes investors for whom time is very important,” he maintained, stressing the need for removing impediments to foreign investments.