Pakistan's investment policies are geared towards an investor-friendly environment with a focus on further opening up the economy and marketing the potential for foreign direct investment (FDI). This was stated by the Pakistan's High Commissioner to the UK Wajid Shamsul Hasan while speaking at a workshop on 'Doing Business in Pakistan' organised jointly by the Pakistan High Commission, UK Trade and Investment (UKTI) and Gateway Asia, on Wednesday evening.
A large number of business entrepreneurs and officials of UKTI and Gateway attended the workshop that provided them with an opportunity to meet with the officials of Commercial Section of the High Commission and representatives of the companies already doing business in Pakistan.
Informing about liberal business and investment environment of Pakistan, the High Commissioner said that the World Bank ranks Pakistan at 83rd, China 79th and India 133rd out of 183 countries in its 2011, Ease of Doing Business, Survey. "Recent reforms have improved our position and helped sustain our standing as the first most business friendly location in our region." He added that "Pakistan offers many Special Economic and Export Processing Zones with lucrative incentives for investment purposes including duty-free import of machinery and equipment, repatriation of capital and profits."
Highlighting growing business and trade links between Pakistan and the UK, Hasan said: "Historically, Britain and Pakistan have always enjoyed good trade relations and many British companies see Pakistan as the country of first choice to do business. Pakistan-Britain bilateral trade exceeded US $1.6 billion during the last year 2010. The most recent figures indicates that exports during the period of July-April (2010/11) from Pakistan to the United Kingdom increased by 17 per cent and accounted a value of US $1.066 billion during July-April 2010/11 when compared to July-April 2009/10".
Commercial Counsellor Saira Najeeb Ahmed pointed out in her presentation on trade and investment opportunities that the sectors where ample opportunities existed for investment and business. She informed that 600 foreign, including 100 British, companies were doing business successfully in Pakistan. Information Technology, Energy, Alternate Energy, Construction, Mining, and Exploration were some of the areas that possess high potential for investments, Ms Ahmed added.
Dwelling upon the reasons to invest in Pakistan, she said that growing domestic market of Pakistan, skilled manpower, liberal investment regime and its location were the important factors and this is also evident from the margin of profits earned by foreign companies operating in Pakistan.
UKTI's Asia specialist Sabe Tibbitts said that UKTI with its three offices in Pakistan was trying to stimulate trade with Pakistan. She pointed out numerous opportunities in Pakistan with the developing cities. Ms Tibbits said that Pakistan is significant for business and trade as it is emerging as a hub for business for other countries of the region including Middle East and Central Asia and there was an ever-growing potential in the fields of information technology and education.
Ash Verma, Chairman, Gateway Business Consultant and Gateway Asia introduced the role of his organisation as the one building upon the strengths of informal links between the UK and countries of origin of expatriates who are engaged in small and medium enterprise business in the UK.
The other speakers at the workshop included Kamran Khan, Director, UK Pakistan Chamber of Commerce and Industry, Imran Kovariwala, Director, Sadaqat Global, Peter Lindsay, Regional Sales Manager International Division, Mabey Bridge Ltd, Ms Neelam Pervez, Director, New Dimension Clothing Company, Richard Baron, Director, Minotaur Sports.
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