Foreign Direct Investment Up by 64% in July 2024

The net Foreign Direct Investment (FDI) in the country stood at $136 million in July 2024, up 64 percent over the FDI of $83 million in the same month of FY24. In July 2024, foreign direct investment inflows stood at $198 million, up 29 percent over inflows of $153 million in July 2023. While outflows in July 2024 stood at $62 million, down 12 percent compared to outflows of $70 million in July 2023. The highest FDI inflows of $45 million were received from China, followed by Hong Kong at $42 million, the United Kingdom at $22 million, the United States at $13 million, and UAE with inflows of $3 million during the period in review. The power sector was the major recipient of FDI in July 2024, attracting inflows of $62 million, followed by oil and gas exploration at $30 million, financial business at $20 million, and petroleum refining at $8 million.