|Published : 14 Apr 2017, 20:41:00|
China overtakes US as largest direct foreign investor to Pakistan
China is now the largest direct foreign investor to Pakistan overtaking the US.
China’s “One Belt, One Road” trade route is funneling in billions of dollars and revamping decrepit infrastructure.
China’s direct investment in Pakistan stood at $1.82 from July 2013 through January this year, according to central bank data, according to a report published in www.straitstimes.com.
However, US direct investment in Pakistan stood at $505 million during the same period.
China has been strengthening its ties to Pakistan after it pledged two years ago to loan and finance about $55 billion in China-Pakistan Economic Corridor.