Strategic location, population and workforce, economic outlook, investment policy, and special economic zones under China-Pakistan Economic Corridor (CPEC) has made Pakistan an ideal country for Foreign Direct Investment (FDI), said Engineer Ahmed Hassan former vice president Faisalabad Chamber of Commerce and Industry (FCCI).
Addressing an international investment forum organized by Expandeers global network GmbH in Munich Germany, he said that Pakistan has a Gross Domestic Product of US $ 304.4 billion and a per capita GDP of almost US $1470 per person. Representing the Faisalabad and FCCI in this forum, he said that Pakistan was the 6th largest country in the world by population, 25th largest in terms of GDP Purchasing Power and 33rd largest in terms of land area.
He said that Pakistan has been blessed with vast fertile lands, due to which agriculture has played a vital role in its national economy. "Pakistan is the 4th largest producer of cotton, 5th largest producer of sugarcane, 8th largest producer of wheat and 10th largest producer of rice", he said and added that textiles and clothing account for over 50 per cent of the national exports, making Pakistan the 8th largest exporter of textiles in the world. Under lining the importance of Faisalabad, he said that more than half of the total textiles exports were contributed by this city alone.
He said that country's strategic location provides it the ideal foundation to become a premier trade, energy, and transport corridor of Asia. "The geo-strategic significance of Pakistan was one of the primary driving force behind the development of the China-Pakistan Economic Corridor (CPEC) project with an investment of over $ 46 Billion", he said and added that CPEC is a flagship project of China's One Belt One Road initiative which will provide trade connectivity to more than 70% of the world's population in addition to helping to improve trade links between Asia, Europe and parts of Africa.
Commenting on Pakistan's population and workforce, he said that over 60% of the national population falls in the working age bracket of 15 to 59 years. He said that a large population together with rapid economic growth also means that Pakistan is developing into a major consumer market. "Pakistan was ranked 29th globally in terms of market size by the World Economic Forum in 2016", he added.
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