Pakistan suitable destination for investment

Written by Bilal Sarwari | March 9, 2009 | 0

Pakistan’s geo‑strategic location, trained work force and the investment policies make it a suitable destination for investment and the Canadian business community need to avail these opportunities , Pakistan’s Acting High Commissioner for Pakistan Mrs. Naela Chohan said. The Acting High Commissioner was addressing the business community of Canada and other countries at a function organised by Canada‑Pakistan Business Council and Trade and Investment Services Alliance (TISA) at Toronto, to highlight Pakistan’s trade and investment potential.

She said Pakistan with a population of more than 160 million people and a growing middle class offers great incentives to foreign investors particularly in energy, mining, power generation, financial sector, infrastructure development and IT & Telecom. Pakistan has announced special policy initiatives for international investments in these sectors, she added.

She said it was heartening to note that the key variable such as GDP growth, foreign exchange reserves, workers’ remittances, FDI and stock markets have shown a healthy increasing rate in Pakistan at par or even better than other emerging economies.

About investment policies of the government she said Pakistan has an effective legal regime to protect foreign investments. World Bank ranked Pakistan globally at 19th position on protecting investments and it was placed at the 77 position among 181 countries around the globe in terms of ease of doing business in 2009.

Naela Chohan said the government has ensured equal treatment of local and foreign investors, all economic sectors were open to foreign businessmen and procedures have been simplified to facilitate investments.

She said in spite of global financial crisis, Pakistan continues to receive Foreign Direct Investment (FDI).During July‑December 2008 Pakistan received over US$ 2.32 billion of FDI. Pakistan’s current account deficit narrowed down by 43% during July ‑ December, 2008 compared to the same period of 2007. The fall in the prices of oil, fertilizer, wheat and audible oil are likely to bring down further both the trade deficit and the current account deficit.

The Acting High Commissioner appreciated Canada‑Pakistan Business Council for playing an admirable role in bringing closer the business communities of Pakistan and Canada and strengthening the commercial relations between them and assured CBC and TISA of support to reinforce mutually advantageous economic relations between Pakistan and Canada.

David Geldart, President TISA said, the alliance was working to develop 4‑way business between Canada and Pakistan i.e. imports, exports, Foreign Direct investment to Canada (FDI) and Canadian Direct Investments Abroad (CDIA). He said TISA was also interested in third party deals and several TISA members were working with Portuguese officials to do JV work in the former Portuguese colonies in Africa. TISA looks forward to a fruitful relationship with Pakistan, he added.

TISA is Ontario’s Premier professional service Association. Unique in Canada it has cross‑sector representation from trade, financial, legal, management, engineering,supply chain etc. TISA networks regularly to share information and opportunities as identified by our private sector sources and government partners.

Written by Bilal Sarwari

Hello everyone, I am Bilal Sarwari owner of your favorite website PakTelecom, I start this website in 2008, at that time I have very less knowledge of internet it was initial stages of my career, blogging is not my full time job its my hobby and in free time i love to share my thoughts views ideas about Pakistan Telecommunication. The purpose of this platform is not to share telecom news only but I also prefer to solve people day to day problem related to telecom. Please feel free to contact me if you have any question feedback or any suggestion, I always response to every email.

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