The Lahore Chamber of Commerce and Industry (LCCI) on Monday signed a Memorandum of Understanding (MoU) with Pakistan Institute of Development Economics (PIDE) for initiating joint research projects. President LCCI, Shahzad Ali Malik signed the MoU on behalf of the LCCI while Dr Rashid Amjad, Vice Chancellor Pakistan Institute of Development Economics represented the PIDE.
Executive Committee Member LCCI, Dr Shahid Raza, Senior Economic Journalist Sikandar Hameed Lodhi and former LCCI Executive Committee Member, Anwaar A Sheikh were also present at the MoU signing ceremony. According to the MoU, the PIDE will conduct research on trade and industry related issues for the LCCI that would help develop the businesses in accordance with global advancement.
The research partnership between LCCI and PIDE would also help develop such an economic system that ultimately would result in creating jobs through an increased economic activity. PIDE will also provide training to LCCI for collection of trade related data so that the LCCI members could be able to improve their business viability.
The LCCI and PIDE also agree to promote awareness among the business community about the programmes being offered by the leading economies to enhance skills of Pakistani workforce. Speaking on the occasion, the president LCCI said the LCCI was making collaborations to develop research as a source of economic activity in the country as a number of countries around the globe had made their presence felt through the use of latest economic data.
He said that there was no second opinion about it that awareness and use of technology were the pre-requisites to increase efficiency and competitiveness. Speaking on the occasion, the Vice Chancellor PIDE Dr Rashid Amjad said the vision of PIDE was to make the country a hub of business activities through human resource development, economic activity generation, IT education, outsourcing, and infrastructure development.
He said that PIDE was working with the mission to develop research as a major sphere of economic activity, and promote its use in the public and private sectors for increasing efficiency and competitiveness". PIDE has achieved great success in a short time, he added.