Foreign investors reluctant to invest in Pakistan: Swiss envoy tells FCCI members

Foreign investors are reluctant to invest in Pakistan due to energy crisis and poor law and order situation, said Swiss ambassador to Pakistan, Nicolas Plattner during a meeting with FCCI office bearers and the business community of Faisalabad, here on Wednesday.
A large number of exporters and industrialist were also present. The ambassador said that Swiss companies had invested more than $1 billion during the last decade. The Swiss government and private sector donated more than $51 million for the flood affected people of Sindh.
He urged to enhance the operation of Pak-Swiss business council in Punjab. The main pillars of the Swiss economy were the services and industrial sectors, which account for approximately 70% and 28% of GDP respectively, he added. Services sector comprises mainly of tourism, banking and insurance. The economic ties between Switzerland and Pakistan were built on solid ground. The trade between Pakistan and Switzerland had been increasing steadily until recent years and reached about half a billion Swiss francs in 2008, he added. Swiss companies have come long-term plans to invest in Pakistan.
President FCCI Muzammil Sultan said that Faisalabad alone has been contributing about 40 percent of the total textile exports of the country during the last many years. He said a large number of Swiss multinational companies were operating in Pakistan. In the fiscal year 2009-2010, Switzerland was ranked the 5th largest Foreign Direct Investor in Pakistan by investing $170.6 million. This was a proof that Pakistan has the potential to be an attractive location for Foreign Direct Investment.
Switzerland has also been contributing towards the development of Pakistan through its development and humanitarian aid programmes. Switzerland contributed $10.7 million to flood-related humanitarian projects in the Pakistan. The major bottleneck in promotion of trade and economic activities between the two countries was the lack of information about available business opportunities. Swiss Commercial & Trade Officer Ajwat Arslan Khan was also attended the meeting.