Foreign direct investment in Pakistan surges by 27% in November

Foreign Direct Investment (FDI) in Pakistan reached $219 million in November, marking a 27% increase from $172 million recorded in the same month last year.

Over the first five months of the fiscal year, net FDI inflow rose by 31% to $1.124 billion, compared to $856 million in the corresponding period last year.

However, portfolio investment experienced an outflow of $59 million in November, with a total outflow of $156 million over the five-month period.

Pakistan has extended an invitation to foreign companies to invest in its agriculture, information technology, and mines and minerals sectors, citing an improved investment climate.

Canada emerged as the largest foreign direct investor with $64.7 million, followed by China with $54.5 million.

Mining & quarrying attracted $64.7 million, financial businesses received $59.8 million and power sector collected $40 million.

In October this year, Pakistan Finance Minister Muhammad Aurangzeb attended a series of investor forums organized by Citibank, Standard Chartered, and JP Morgan, where he highlighted the positive economic trends.

Aurangzeb expressed satisfaction with the economy's performance during the previous fiscal year, noting that all economic indicators were moving in the right direction.

Meanwhile, State Bank Governor Jameel Ahmad also emphasized the significant improvement in the national economy and its promising outlook, predicting further real GDP growth in FY25.