ISLAMABAD, Feb 19 (Online): The Pakistan Industrial and Traders Associations Front (PIAF) has welcomed the flow in foreign direct investment (FDI) which has increased by 11.3% to $1.17 billion in July-January of fiscal year 2021-22 compared to $1.05 billion in the same period of last year.
PIAF senior vice chairman Nasir Hameed and vice chairman Javed Siddiqi observed that if Pakistan continues to attract FDI at the current pace, then foreign investors may pour up to $2 billion in the ongoing fiscal year. They said that Pakistan has the potential to attract much more than $2 billion per year as the government was taking measures to secure a higher amount of foreign investment.
IT, construction and allied industries are among the top potential sectors that will attract substantial foreign investment in the coming months.
Nasir Hameed said that China has continued to remain the largest foreign investor in Pakistan, as projects under the China-Pakistan Economic Corridor (CPEC) have entered the second phase of development.
Most of the investment in the power sector is coming from China. The US emerged as the second largest investor as its companies were running diverse projects in Pakistan in different sectors including financial, energy, pharmaceutical, food, beverages and fast-moving consumer goods, it has been learnt. He said that Malaysia and the Netherlands were also prominent investors in Pakistan in the seven months under review.
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