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Board of Investment estimates to attract $1 billion as direct foreign investment

KARACHI (November 17 2002) : The Board of Investment has estimated to attract one billion dollars as direct foreign investment during the current financial year, it was officially learnt on Saturday.

The flow of foreign direct investment during July-October has increased by 234 percent as compared with the corresponding period of the previous year.

During October alone the inflow was $229 million and the total FDI during July-October stood at $ 399.1 million. During July-October 2001 FDI was $119.6 million.

Major sectors, which attracted sizeable FDI during the period, are financial business $156 million, chemical

$ 76.7 million, oil and gas $54 million, transport $30 million and trade $ 15.5 million.

Financial business share in the investment is 39 percent, chemical 19 percent, oil and gas 14 percent and trade 13.9 percent.

Shares of major investing countries in FDI are UAE 38 percent, UK 24 percent, USA 22 percent, Saudi Arabia 3.6 percent and others 12.4 percent.

The BoI is making efforts for marketing the investment potential and opportunities that Pakistan offers to foreign investors. The visits of foreign business delegations to Pakistan and vice versa have already increased.

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