US industrialists, businessmen and traders, giving positive response to President Pervez Musharraf's address to US Chamber of Commerce, have shown keen interest for investment in Pakistan.
It was conveyed on Thursday to Chairman Pak-US Business Council, Iftikhar Ali Malik through email by Dr Herbert J. Davis, Vice Chairman, South Asia Affairs, US Chamber of Commerce. Davis said that there are prospects for US and other foreign multinational companies to invest in Pakistan.
He said President Pervez Musharraf in his speech on September 21 in New York, unfolding distinct features of his economic policies, offered an excellent package of incentives to foreign investors and restored the confidence of US investors.
He said President Musharraf also assured sovereign guarantee to their investments with better and secured business atmosphere.
Davis said Pakistan is a country rich in history, culture and natural resources, adding that he was confident that the partnership between the United States and Pakistan which began over 50 years ago, will further improve in the years to come.
With the lifting of economic sanctions in early 2002 and renewed economic engagement, he said, it was expected that Pakistan would achieve sustained growth in many key sectors in the years ahead. Pakistan is ideally located with access to the land-locked Central Asian Republics and has a competitively affordable and expanding workforce of 36 million, he added.
"Since 1999, Pakistan has achieved significant macroeconomic success as recognised by multilateral lending institutions, particularly World Bank and IMF," he said, adding that Pakistan's foreign investment policy is open and liberal in South Asia, which is good news for American companies interested in doing business in Pakistan.
He said American companies now have the US-Pakistan Business Council for exploring investment and business opportunities here. "Having the council's secretariat at the US Chamber of Commerce shows just how much the overall US-Pakistan relationship is growing on the commercial as well as political front," he added.
The council will help the American corporate sector identify opportunities in Pakistan's vast resource based industries, such as oil, gas and petrochemicals, and other industries such as textiles, garments, software and automotive manufacture.
Iftikhar Ali Malik said Pak-US Business Council and Federation of Pakistan Chambers of Commerce and Industry will facilitate the visit of US investors for investment in different sectors as Prime Minister Shaukat Aziz has already directed all the concerned departments, especially Board of Investment (BoI) for providing full assistance to all foreign investors.
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