Nilgiri
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OK you win, I lose. This is getting off topic anyways.
Pakistan's Computer Services Exports Jump 26% Amid COVID19 Lockdown
- Thread starter RiazHaq
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OK you win, I lose. This is getting off topic anyways.
Yaseen1
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due to lockdowns more people are watching newsblog and content online,also entertainment related videos,movies etc demand increased online as well as gaming as people staying at home have to pass their free time
Syed1.
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Sir can you please explain how that is tied with 26% increase in exports?
Ahmad Saleem
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A lot of Pakistani companies have registered themselves in dubai or europe. Pakistan needs to improve its image and have to make strong data protection laws. International firms are very sensitive with respect to their data and its protection. Pakistan needs to focus more on education, beside few universities other universities are just shit
#Covid #Lockdown: #Pakistan’s #FDI soars 32% in April 2020 to $133.2 million, up from $100.8 million last year. #Oilandgas exploration sector led with $39.1m followed by #financialservices $30.8m, #telecom $20 million, #power $18.4 & #chemicals $14.9m. https://tribune.com.pk/story/2224412/1-despite-pandemic-pakistans-fdi-soars-32-april/
Multinational companies have continued to inject fresh investment into ongoing projects in different sectors of Pakistan’s economy like telecommunication, power, and chemical despite the global economic crisis sparked by the coronavirus pandemic.
Foreign direct investment (FDI) rose 32% to $133.2 million in April 2020 compared to $100.8 million in the same month of the previous year, the State Bank of Pakistan (SBP) reported on Monday.
Although the volume of investment stood at an eight-month low in April, “what is encouraging is that investors have continued to pour fresh capital into ongoing projects in Pakistan despite the global economic recession under Covid-19,” Overseas Investors Chamber of Commerce and Industry (OICCI) Secretary-General M Abdul Aleem remarked while talking to The Express Tribune.
Moreover, the nature of investment stands diversified. Companies from multiple countries have poured new investment, unlike Chinese firms which have been the only major investors in Pakistan in recent times.
FDI should improve in the months to come as countries are slowly lifting lockdowns in a bid to revive economic activities around the globe. Accelerating the activities, however, may remain a challenge in the absence of a coronavirus vaccine and medicines.
Cumulatively, in the first 10 months (July-April) of the current fiscal year, foreign firms injected FDI worth $2.28 billion, which was more than double the investment of around $1 billion in the same period of the previous year, according to the central bank.
Before the outbreak of Covid-19 late in February in Pakistan, foreign investors seemed poised to initiate new projects in the country. They, however, have put the projects on hold in response to the virus.
“In the recent past, some foreign companies made a new investment in food, energy, and telecom sectors in Pakistan,” Aleem said.
Country-wise FDI
Hong Kong emerged as the largest investor with net FDI of $28.4 million in April 2020, followed by the Netherlands that injected $24.5 million, the US $22.5 million, Malta $18.5 million, and the UK $10.5 million.
Cumulatively, in the first 10 months of FY20, China was the biggest investor, with FDI worth $877.8 million compared to $45.5 million in the same period of last year.
Norway stood second with $288.6 million, followed by Malta that injected $185.2 million in July-April FY20.
However, in the same period of the previous year, the UAE was the largest investor with a net investment of $159.7 million, followed by Hong Kong at $147 million, while Japan invested $95.8 million.
Sector-wise FDI
The oil and gas exploration sector attracted the largest foreign investment of $39.1 million in April 2020, followed by the financial sector that got an investment of $30.8 million, the communication sector $20 million, power sector $18.4 million, and chemical sector $14.9 million.
Cumulatively, in 10 months, power, communication, and oil and gas exploration sectors were the top three sectors that attracted significant investment.
Investment in stock market
Although foreign investors continued to remain net sellers at the Pakistan Stock Exchange (PSX) in the first 10 months of FY20, they slowed down selling compared to the same period of last year.
They offloaded stocks worth $182.7 million in July-April FY20 compared to $408.1 million in the same period of last year, according to the central bank.
Multinational companies have continued to inject fresh investment into ongoing projects in different sectors of Pakistan’s economy like telecommunication, power, and chemical despite the global economic crisis sparked by the coronavirus pandemic.
Foreign direct investment (FDI) rose 32% to $133.2 million in April 2020 compared to $100.8 million in the same month of the previous year, the State Bank of Pakistan (SBP) reported on Monday.
Although the volume of investment stood at an eight-month low in April, “what is encouraging is that investors have continued to pour fresh capital into ongoing projects in Pakistan despite the global economic recession under Covid-19,” Overseas Investors Chamber of Commerce and Industry (OICCI) Secretary-General M Abdul Aleem remarked while talking to The Express Tribune.
Moreover, the nature of investment stands diversified. Companies from multiple countries have poured new investment, unlike Chinese firms which have been the only major investors in Pakistan in recent times.
FDI should improve in the months to come as countries are slowly lifting lockdowns in a bid to revive economic activities around the globe. Accelerating the activities, however, may remain a challenge in the absence of a coronavirus vaccine and medicines.
Cumulatively, in the first 10 months (July-April) of the current fiscal year, foreign firms injected FDI worth $2.28 billion, which was more than double the investment of around $1 billion in the same period of the previous year, according to the central bank.
Before the outbreak of Covid-19 late in February in Pakistan, foreign investors seemed poised to initiate new projects in the country. They, however, have put the projects on hold in response to the virus.
“In the recent past, some foreign companies made a new investment in food, energy, and telecom sectors in Pakistan,” Aleem said.
Country-wise FDI
Hong Kong emerged as the largest investor with net FDI of $28.4 million in April 2020, followed by the Netherlands that injected $24.5 million, the US $22.5 million, Malta $18.5 million, and the UK $10.5 million.
Cumulatively, in the first 10 months of FY20, China was the biggest investor, with FDI worth $877.8 million compared to $45.5 million in the same period of last year.
Norway stood second with $288.6 million, followed by Malta that injected $185.2 million in July-April FY20.
However, in the same period of the previous year, the UAE was the largest investor with a net investment of $159.7 million, followed by Hong Kong at $147 million, while Japan invested $95.8 million.
Sector-wise FDI
The oil and gas exploration sector attracted the largest foreign investment of $39.1 million in April 2020, followed by the financial sector that got an investment of $30.8 million, the communication sector $20 million, power sector $18.4 million, and chemical sector $14.9 million.
Cumulatively, in 10 months, power, communication, and oil and gas exploration sectors were the top three sectors that attracted significant investment.
Investment in stock market
Although foreign investors continued to remain net sellers at the Pakistan Stock Exchange (PSX) in the first 10 months of FY20, they slowed down selling compared to the same period of last year.
They offloaded stocks worth $182.7 million in July-April FY20 compared to $408.1 million in the same period of last year, according to the central bank.
Ahmad Saleem
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A good video related to bhasha dam
Bilal9
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There are International data protection directives laws such as GDPR. Europeans are ahead of US on passing these laws. US states are slowly passing data protection laws too- California did early last year.
The thing is - Indians (because they have business interests in data processing) are very active in passing their own data protection laws, which they are actively working on now.
In the Indian context - what laws you have on the books, doesn't reflect ground reality. It's just a token thing to show US/EU customers that as an Indian company you are following their data protection rules and have compliance processes in place, which Indian companies rarely (if ever) do, but will show full force on the books.
In fact - most ISO standards consulting firms are also Indian, and dealing with them from close quarters for implementations in Bangladesh, I also know their auditing 'standards'. Between Indian companies, it's just a 'wink and a nod' of an understanding on these matters. Actual compliance is 'Delhi door ast'.
"India’s IT services exports to the U.S., which depend significantly on the H-1B visa, have been an important constituent element of bilateral economic trade. U.S. imports of services from India were an estimated $29.6 billion in 2018, 4.9% more than in 2017, and 134% greater than 2008 levels, according to the U.S. Trade Representative..... Until now, the U.S. issued 85,000 H-1B visas annually, of which 20,000 went to graduate students and 65,000 to private sector applicants, and Indian nationals would garner approximately 70% of these. Now the Migration Policy Institute has been cited predicting that up to 219,000 workers would be blocked as a result of Mr. Trump’s proclamation."
https://www.thehindu.com/news/natio...-us-visa-ban-impact-india/article31935322.ece
Nilgiri
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Again significant can be taken to mean 10%, 20%, 30%, 40% or whatever chunk you determine as being "significant".
Let's see what the breakdown actually is if anyone has it....given the global % prevalence for India (worker translocation based) has already been shown to be approximately 20%....compared to ICT network based of 80%.
