ISLAMABAD, Dec 31 (APP):
Malaysia tops the list of investors making Foreign Direct Investment (FDI) in
Pakistan during first six month of year 2008, according to data released by
Ministry of Foreign Affairs. The Foreign Direct Investment
during the first five months of current financial year reached US$ 1.8 billion
registering an increase of 1.5 percent, export reached to US$ 8.2 billion with a
growth of 20 percent and foreign remittance at 2.9 billion registered an
impressive increase of 15pc.
The May Bank made the biggest
investment of US$ 907 million in banking sector followed by Saudi Arabia with an
investment of US$ 750 million in steel sector and UAE with an investment of US$
500 million in power sector.
The global economic meltdown
has not deterred the foreign investors including Malaysia to invest in Pakistan,
as the Pakistan’s economy showed extreme resilience and defied the economic
recession with registering growth in FDIs, Export and Foreign Remittance.
According to the data, another
ASEAN member country Singapore has made an investment of US$ 147 million in
banking sector and US$ 30 million in power sector and as such trails far beyond
Other countries who are
flocking Pakistan for FDI in banking sector are Switzerland with an investment
of US$ 200 million, United Kingdom US$ 125 and Saudi Arabia US$ 200 million.
The countries making investment
in Hypermarkets in Pakistan are Germany with an investment of US$ 100, Holland
with an investment of US$ 100 million and France with an investment of US$ 40
million, whereas countries making investment in power sector are UAE with an
investment of US$ 500 million, OPEC with an investment of US$ 30 million and
Turkey with an investment of US$ 130 million.
The information released by the
Ministry of Foreign Affairs says that China, UAE and Korea have also announced
additional investment in telecom, banking and power sectors. China has announced
US$ 800 million in Telecom sector, UAE has announced an investment of US$ 2
billion in banking sector and Republic of Korea has announced investment of US$
300 million in Hydropower sector.
In addition, Chinese companies
have further announced FDI to Pakistan at US$ 5 billion and UAE/Saudi Arabian
companies have assured FDI of US$ 3 billion during current financial year of
The data further suggests that
foreign investors who have burnt their fingers elsewhere are finally beginning
to look at Pakistan as safe haven for long term sustainable and profitable