LAHORE, JAN 19: Prime Minister Shehbaz Sharif has said that Pakistan is the first country to implement the Digital Foreign Direct Investment (FDI) Initiative, launched by the World Economic Forum (WEF) and Digital Cooperation Organisation (DCO).
According to a spokesperson, the premier said on Saturday Pakistan’s first Digital FDI project had been making significant efforts to identify targets and promote digital progress. He elaborated that Pakistan’s Digital FDI project was a framework aimed at implementing digital infrastructure, digitisation and export of digital services.
It would focus on sectors likely to attract foreign investment into the country, he added.
Prime Minister Shehbaz Sharif pictured at Prime Ministers House in this undated image. — PMs House official website
Prime Minister Shehbaz Sharif pictured at Prime Minister’s House in this undated image. — PM’s House official website
“It is an important milestone towards creating an investment-friendly environment in the country,” the premier said, adding that the country was heading towards a vibrant digital economy, which was a vital step in achieving sustainable progress and prosperity.
Shehbaz remarked that the initiative reflected the government’s commitment to fostering economic growth.
The country’s net FDI rose by 31%, reaching $1.124 billion in the first five months of the current fiscal year.
The News, citing data released by the State Bank of Pakistan (SBP), reported last month a net FDI inflow of $219 million in November, 2024. This marks a 27% increase compared to $172 million during the same month last year and a 65% rise from the $133 million recorded in October of this fiscal year.
The substantial growth in FDI reflects Pakistan’s success in attracting foreign investors, driven by improving macroeconomic indicators.
According to the SBP’s data, the majority of direct investments originated from China, with FDI from Chinese companies rising by 60% to $469 million during the period from July to November FY25. Investments from Hong Kong also increased by 44%, reaching $116 million.
The UK contributed $113 million in FDI from July to November FY25, compared to $100 million during the same period last year.
In terms of sector-specific investments, the power sector saw a significant 51% increase, with FDI amounting to $454 million from July to November FY25. The financial sector received $249 million in FDI during this period, a slight increase from $247 million a year earlier.
FDI in the gas and exploration sector rose by 24%, reaching $125 million during the same period.
