Department of Industry Confirms Over Rs 250 Billion in Investment Commitments for FY 2023/24

The Department of Industry (DoI) has confirmed investment commitments totaling over Rs 250 billion within the first 11 months of the current fiscal year (FY 2023/24). During this period, 383 industries were registered, including 49 large industries, 50 medium industries, and 284 small industries.

According to data published by the DoI on Wednesday, these newly registered industries have received investment commitments amounting to Rs 200.17 billion.

Between mid-May and mid-June alone, 59 industries were registered, attracting investment commitments worth Rs 32.20 billion. This surge in registrations follows an investment summit held by the government on April 28-29, aimed at boosting domestic and foreign investments. The summit had a significant positive impact, leading to the registration of nine large industries within the subsequent month.

Additionally, the DoI approved Foreign Direct Investment (FDI) for 355 companies this year. The registered industries and the approved domestic investments are expected to create employment for 26,027 people, while the industries with foreign investment are anticipated to provide jobs for 17,642 people.

The DoI's data also highlights other activities during this period, including the registration of two patents, 5,494 trademarks, 45 initial environmental assessments, and 89 trademark-related lawsuits.