March 19, 2003	Wednesday	Muharram 15, 1424

ISLAMABAD, March 18: The Foreign Direct Investment (FDI) has registered an increase of 148 per cent to $630.07 million in July-February against $254.5 million during the same period of last year, according to official statistics issued on Tuesday.

During the current financial year it was expected that FDI would cross $1billion mark.

In February, the inflow of FDI was $37 million, showing that the confidence of investors had improved in Pakistan.

The major sectors that attracted notable FDI during the period under review were financial businesses: $211 million; chemical: $80 million; oil and gas: $125 million; Transport: $58 million; trade: $30 million; textile: $21 million and communication: $20 million.

The percentage share came as financial businesses 34 per cent; chemical 13 per cent; oil and gas 20 per cent; transport 9 per cent, trade 5 per cent, power 4 per cent and other sectors as 15 per cent.

According to country-wise break-up, $196.9 million came from UK $162.5 million from the US and $110.3 million from the UAE.

The percentage share of major investing countries was: UK 31 per cent, US 26 per cent, UAE 17 per cent, Saudi Arabia 5 per cent, Japan 2 per cent and 19 per cent from other countries.

According to an official announcement, the visits of the foreign business delegations to Pakistan have increased during the last 3 months. Investor delegations from Europe, Bahrain, China, Singapore and Saudi Arabia have visited Pakistan to explore opportunities and have a meaningful interaction with the private sector.

The Singaporean investment and trade delegation during their visit in January last this year has indicated their interest in IT, oil and gas, education and infrastructure projects besides import of other products.

The increase in the FDI was indicative of the fact that investors perception about Pakistan was improving. A conference of OIC countries on investment and privatization would be held in April this year at Islamabad, organized by BoI in collaboration with E- commerce gateway Singapore and Islamic Chamber of Commerce and Industry.