Foreign Direct Investment Hits 21-Month High in March 2024

The Foreign Direct Investment (FDI) in the country rose to $258 million in March 2024, up 52 percent over the FDI of $170 million in the same month of FY23. According to Arif Habib Limited (AHL), the net FDI inflows in March 2024 are the highest since June 2022 (21-month high). In March 2024, foreign direct investment inflows stood at $330 million, up 39 percent over inflows of $237 million in March 2023. While outflows in March 2024 stood at $72 million, up 8 percent compared to outflows of $67 million in March 2023. FDI inflows during the nine months of the current fiscal year (9MFY24) stood at $1.1 billion, down 10 percent compared to FDI inflows of $1.2 billion reported in the 9MFY23. In 9MFY24, the highest FDI inflows of $264 million were received from Hong Kong, followed by China at $262 million, the United Kingdom at $196 million, the United States at $101 million and the Netherlands making the top five with inflows of $67 million. The power sector was the major recipient of FDI, attracting inflows of $443 million, followed by oil and gas exploration at $171 million, financial business at $151 million, and petroleum refining at $70 million.