ISLAMABAD   -   China has emerged as the largest investor in Pakistan in fiscal year 2024 (FY24) with a net foreign direct investment (FDI) of $568.2 million. The second and third highest ranks in terms of net FDI were held by Hong Kong and the United Kingdom, with net investments worth $358.51 million and $268.19 million, respectively.

It is pertinent to note that the total FDI in FY24 stood at $1.9b, up 16.88% YoY compared to FDI of $1.63b in FY23, Gwadar Pro reported on Thursday quoting official data issued by the State Bank of Pakistan (SBP). China held the majority proportion (29.88%) of direct investments in the country, however, investment from the respective country has declined substantially by 17.95% YoY when compared with the figure of $692.52m in FY23.

Hong Kong’s contribution in net FDI stood at $358.51m (18.85%) in the FY24, up by 43.3% YoY compared to $250.18m in SPLY. The third major investor during FY24, United Kingdom’s share was 14.1% with a direct investment of $268.19m, declining by 0.61% YoY. Other major important investors were the United States, Singapore and Canada with a net FDI of $137.29m, $100.06m, and $95.52m respectively. The Foreign Portfolio Investment (FPI), which represents an investment in the equity market (both direct and indirect) during FY24 stood at positive $175.68m.

The United Kingdom emerged as the biggest portfolio investor during the month, as it invested $18.27m. In FY24, total foreign investment was reported at $1.52bn as compared to foreign investment of $600.75m incurred in the corresponding period last year.