Foreign Investment In Pakistan
ISLAMABAD: President Mamnoon Hussain on Monday said that Pakistan had emerged as the best destination for foreign investment owing to improved peace and the government’s business-friendly policies, and invited the world particularly the neighboring countries to join the China Pakistan Economic Corridor (CPEC).
Addressing the annual dinner hosted by the Rawalpindi Chamber of Commerce and Industry (RCCI) here, the president said Pakistan had enacted legislation to facilitate domestic and international business, making the country an attractive place for investment in the region.
Due to the very steps, Pakistan’s exports were also gradually growing. Likewise, the GDP growth rate had reached 5.3 per cent which was the highest during last 10 years, he remarked.
The reception was attended by National Security Adviser Lt General (r) Nasser Khan Janjua, RCCI President Zahid Latif Khan office bearers of the RCCI besides a large number of members from the diplomatic community.
He was pleased to note that the RCCI was fully mobilised towards the promotion of business activities in the country.
He said the presence of the diplomatic community in a large number manifested the effective contacts and professional relations between Pakistan and the international community.
The president believed that cordial relations of the diplomatic community with industrial, trade and professional organisations of Pakistan and their fervent participation in such events reflected their positive impression about Pakistan.
He also said that various countries were desirous of increasing bilateral trade with Pakistan and the country would always welcome their interest and investment in the bilateral trade and joint ventures.
President Mamnoon said the secrets behind Pakistan’s success were comprehensive strategies and persistent counterterrorism policies.
He told the gathering that during the past several years, Pakistan had suffered enormous losses of lives and properties due to terrorism. The government had worked diligently to improve the situation through robust diplomatic, political and administrative measures. He hoped that the unrest would be completely eradicated in the near future.
Mentioning the adverse impact on national economy, industry and exports owing to the energy crisis in the past, the president said power shortage for the industrial sector had been completely eliminated and industry was running at a satisfactory pace.
He also said that Pakistan’s exports had witnessed an increase of more than 11 percent during the current fiscal year due to these measures.
He invited the foreign countries to invest in various sectors including minerals, power, infrastructure, information technology, financial services, tourism, agriculture and mining.
President Mamnoon stressed for increasing the exchange of trade and business delegations so that they can take better decisions by acquiring awareness regarding the business and joint ventures.
He hoped that the diplomatic community-based in Pakistan would play their role.
The president said the Ministry of Commerce was working on a strategic trade policy framework for the next five years which aimed at the proficient introduction of Pakistani products, improving regional connectivity and providing a friendly business environment.
He also said the government had concluded several bilateral and multilateral trade agreements to secure better international market access for Pakistani products while several other agreements were under process.
He viewed that free trade agreements and preferential trade agreements had proved to be very efficacious in this regard by increasing bilateral trade with neighbouring countries.
CPEC Bring so many Opportunities
He told the gathering that the CPEC had created many attractive opportunities apart from the existing ones. This project would not only reduce distances among different countries of the region but it was also opening up invaluable avenues for the entire world.
He believed that the international community should consider investing in the CPEC as it would not only lead to a positive change in the business environment of this region but the entire world.
Later, President Mamnoon presented mementos to the RCCI president and diplomats in recognition of their services for enhancing trade linkages with Pakistan. Zahid Latif also presented the memento to the President Mamnoon.
RCCI president and group leader Sohail Altaf also addressed the gathering and highlighted the chamber’s performance and efforts to enhance Pakistan’s exports and strengthen the national economy.