Daily Times

The Foreign Direct Investment (FDI) into the country increased by 87.94 percent on month-on-month basis during August 2022 against the inflows of July 2022, according to report by finance ministry. The FDI inflows were recorded at $ 110.7 million in August 2022 as against an inflow of $ 58.9 million in July 2022, says ‘Economic Update and Outlook for September 2022’. During the first two months of current fiscal year the inflows however witnessed declined of 26.1 percent when compared to the corresponding period of last year. The FDI reached $ 169.5 million during July-August 2022-23 against $229.5 million during July-August (2021-22). According to the beak up figures, FDI received from China stood at $32.7 million (21.5 percent of total FDI), U.A.E $ 25.5 million (19.6 percent), Switzerland $ 23.3 million (11.0 percent), and the Netherland $ 16.8 million (10.6 percent). The sector-wise beak up shows that the power sector attracted the highest FDI of $ 80.4 million (47.4 percent of total FDI), Financial Business $ 50.7 million (29.9 percent), and Communication $ 25.0 million (14.7 percent). Meanwhile, the Foreign Private Portfolio Investment has registered a net outflow of $ 6.7 million during July-August FY2023. Foreign Public Portfolio Investment recorded a net outflow of $ 18.4 million while the total foreign portfolio investment recorded an outflow of $ 25.1 million during July-August FY2023 as against an inflow of $ 961.6 million in the corresponding period last year. The total foreign investment during July-August FY2023 reached $ 144.4 million against $ 1191.1 million last year.