Foreign investment in Pakistan surpasses $2bn mark
So far this year has been so great for Pakistan and its economy as country’s economy has hit $3 billion mark and also GDP of the country has risen significantly. And now foreign investment in Pakistan has surpassed $2 billion mark.
State Bank of Pakistan reports, “Foreign investment in the country has risen to $2 billion mark in July-May.” In the preceding fiscal year, the FI was close to $1.903 billion. The rise in investment is due to investors from China, France, Norway, Turkey, and Netherlands are investing in the country. Moreover, World Bank has also predicted that the economy of Pakistan would grow by 5.5 percent by 2018.
China is the leading country investing in Pakistan, the investment rose to $879 million in July-May. Chinese investors are largely investing in the power sector of the Pakistan to create electricity in the country. Moreover, investment is also coming in Pakistan under CPEC project.
Netherlands is the second country that is spending sums in Pakistan, it has invested $465.6 million in Pakistan in July-May. Turkey is also spending money in Pakistan, the country is focusing on mass transit projects and on cleanliness projects running in the Pakistan, Turkey has invested $135 million in July-May. France and Norway have also invested $180 million and $75 million respectively.
Due to foreign countries investing in Pakistan jobs openings in the country are also much more now. As of now, CPEC project alone has created 30,000 jobs for Pakistanis and more are sure to come.
Similarly, the economy of the country is expected to expand as Pakistan has become a full member of SCO. With Pakistan becoming the full member of Shanghai Cooperation Organisation (SCO), the country will be able to interact more with SCO countries and can raise its FI even further.
Furthermore, investors from big countries such as Russia and China will give technical support to Pakistan and will invest in the country as well.