President Mamnoon Hussain on Tuesday said Pakistan was a market of unlimited opportunities owing to its strategic location and would serve as Asia's premier trade, energy and transport corridor. He said this while talking to a delegation of businessmen and companies from diverse business backgrounds, led by Chairman France-Pakistan Business Council of MEDEF International Thierry Pflimlin here at the President House.
French ambassador and other senior officials were also present on the occasion.
The president said all sectors of economy were open for investment and a level-playing-field was provided to local and foreign investors whereas visa on arrival facility was allowed for 69 countries. A statement from the media wing of the Aiwan-e-Sadr quoted the president as saying Pakistan was the gateway to energy rich Central Asian States, the financially liquid Gulf States as well as China.
He said Pakistan had adopted a very liberal and investor-friendly investment policy which allowed 100 per cent repatriation of capital, profits and dividends as well as exemption of taxes on import of plant, machinery and equipment. He said there were over 1000 multinational companies (MNCs) profitably operating in Pakistan which described Pakistan as a most profitable country.
The president said abundant investment opportunities were available for foreign investors in the development of Pakistan's communication sector, especially the Railways, international airports, highways and motorways under public-private partnership. He said Foreign Direct Investment (FDI) was fully protected under the federal law.
He urged foreign investors to take advantage from lucrative investment policy of Pakistan by investing in its various sectors to the mutual benefit of all. The president said the agriculture sector was a vital component of Pakistan's economy as it provided raw materials to the down the line industries and helps in poverty alleviation.
He said Pakistan had impressive dairy industry which could be exploited to its real potential as it was the 4th largest milk producing country in the world. He said Pakistan and France enjoy excellent bilateral relations and recalled that Pakistan was the second largest export partner for France in South Asia.
He expressed the optimism that bilateral ties between the two friendly countries would reach new heights in future through co-operation in various fields. Chairman France-Pakistan Business Council of MEDEF International, Thierry Pflimlin appreciated the sound economic and fiscal policies of the government and said the country's economy was reviving and was being acknowledged by leading financial institutions of the world.
He said Pakistan had the potential to emerge as a leading regional economy and added his country was keen to further expand bilateral relations with Pakistan. The president wished the visiting delegation a fruitful and productive stay in Pakistan.