ISLAMABAD, Nov 21: The Foreign Direct Investment (FDI) in the country has increased by 115 per cent to $119 million during July-Oct 2001 as compared to $55.5 million of the corresponding period last year.

In October 2001 alone the flow of FDI was $50.5 million which indicates that per month average during October was almost doubled as compared to per month average of previous three months.

“This shows that foreign investors have started reposing confidence in Pakistan and business-friendly policies of the government”, says the Board of Investment (BoI) in an announcement on Wednesday.

It said that in case of early settlement of Afghanistan issue, it is projected that the FDI flow during the current financial year will be around $500 to $600 million.

The leading sector which attracted sizable FDI during the period are: oil and gas ($48.5 million), power ($25.6 million), electronics ($8.1 million), petrochemical ($6.9 million), transport ($5.9 million) and information technology ($4.7 million). The major investing countries are: the United States, ($65.8 million), the United Kingdom ($10 million) and the United Arab Emirates ($7.4 million).

The Board is making efforts for marketing the investment potential and opportunities of Pakistan to the foreign investors. Recently, in Sept this year, an overseas investment conference was held in Germany which generated lot of interest by the German entrepreneurs for investment in Pakistan in various sectors.

It expected that during the coming months, the FDI inflow from Germany will also be increased. During the year 2002, the BoI is planning to hold investment conference in Middle East, USA, European Union, China and Japan.

The Board has chalked out an investment marketing plan and the opportunities will be fully taped which are now arising as a result of lifting the economic sanctions against Pakistan.

The Overseas Private Investment Corporation (OPIC), US Exim Bank, Hermes of Germany have announced full support for investment and trade with Pakistan. In addition, the BoI is launching a campaign to motivate Pakistan’s trade specific forums as well as business groups in order to gear them up for strong, timely and effective participation in Afghanistan, especially the reconstruction of infrastructure and housing sector.