FDI in 2020 dips 42% to $ 687 m

Monday, 10 May 2021 01:43 - - {{hitsCtrl.values.hits}}

Foreign Direct Investments (FDIs) to BOI companies, including loans, in 2020 have declined by 42.2% to $ 687 million compared to $ 1.18 billion in the previous year, according to the Central Bank.

It said the contraction in FDIs was witnessed across all the sectors.

FDI into the infrastructure sector declined to $ 383.4 million in 2020 from $ 643.7 million in 2019. FDI into the manufacturing sector was down from $ 319.5 million to $ 192 million and services from $ 224 million to $ 111 million.

Under Sections 16 and 17 of its Act, the BOI in 2020 approved 155 projects (as against 160 in 2019) and the total value of the Investment was estimated at Rs. 406 billion down by 91.4% compared to 2019.