Pakistan News

PM stresses Pakistan’s investment potential

PM stresses Pakistan’s investment potential

HONG KONG: Prime Minis­ter Nawaz Sharif said on Wed­nesday Pakistan was emerging as a rising and secure country on the track of sustainable growth due to its liberal investment policies.

“Today I present to you a rising, confident and secure Pak­istan — a country full of vigour to make its mark in the world,” he told Hong Kong’s top businessmen and corporate leaders at the Pakistan Investment Forum. The event was organised by the China Innovative Finance Group Limited and the consulate general of Pakistan.

The prime minister invited businessmen of Hong Kong to invest in Pakistan and take advantage of its strategic location, rich human and material resources, political stability and attractive investment policy.

Despite challenges, he said, Pakistan was becoming an emerging economy and a destination that no global player could afford to miss.

He said there was no minimum requirement for the amount of foreign equity and investors could repatriate 100 per cent profits and dividends.

In Pakistan, the prime minister said, the consumer market was growing at a very fast pace and the demand for automobiles, housing and electronics was thriving and providing considerable returns to the corporate sector. Besides, service industries, particularly telecommunication, hospitality and online retail, are fast growing into attractive areas for investment.

He said from a three per cent GDP growth before 2013, the country was projected to achieve 5.5pc GDP growth this year and 7pc in (the coming) two years.

He said the Pakistan Vision 2025 served as a comprehensive strategy for achieving sustainable growth and mapped the country to join the top 25 economies in the world leading to upper middle income country status by 2025.

He said the Karachi Stock Exchange index had tripled in less than four years and international monetary institutions were improving ranking of Pakistan.

The prime minister said the China-Pakistan Economic Cor­ridor (CPEC) was a key regional initiative for connectivity and shared prosperity of nations. He said Pakistan favoured synergising energies in the region to support the project and called for not indulging in negative publicity.

Meetings with Hong Kong leaders

The prime minister met Chief Executive of Hong Kong Leung Chun-Ying and discussed bilateral ties and ways to enhance cooperation in multiple spheres.

During the meeting, Mr Sharif was accompanied by Commerce Minister Khurram Dastgir Khan and Board of Investment Chairman Miftah Ismail and the chief executive by Finance Secretary of Hong Kong Paul Chan Mo-Po, Commissioner for Belt and Road Yvonne Choi Ying-pik and the secretary of treasury.

The two leaders discussed matters of mutual interest and bilateral relations between Pakistan and Hong Kong.

Prime Minister Sharif said Pakistan had strong relations with Hong Kong and there was a great scope for trade and economic relations between the two countries. He stressed that cooperation between the two countries in different sectors must be enhanced.

He said Pakistan’s liberal trade policies provided ample opportunities to investors of Hong Kong and asked businessmen from Hong Kong to take active part in the CPEC.

The Hong Kong chief executive said the two countries were cooperating with each other in multiple spheres, and called for enhancing economic cooperation between them.

Mr Sharif also met Chief Executive-Elect of Hong Kong Carrie Lam and discussed with her the possibilities of Pakistan and Hong Kong tapping the potential of bilateral ties to the maximum.

The two leaders discussed matters related to bilateral investment and cooperation in education sector, including an increase in number of scholarships for Pakistani students in Hong Kong universities.

The heads of Hong Kong’s top companies called on Prime Minister Sharif and expressed interest in investment in Pakistan.

The prime minister’s separate meetings with ZTE Corporation Chairman Yin Yimin, Chairman of the Shandong High-Speed Group Sun Liang and Chairman of the Beijing Enterprises Holdings Limited Wang Dong focused on developing business linkages in the public-private sector of Pakistan and Hong Kong.

Mr Sharif told the company heads about Pakistan’s investment-friendly policies that offered incentives for foreign businessmen.

The corporate heads said they would work on exploring the potential of trade and business with Pakistan.

The ZTE Corporation is a leading global provider of telecommunication equipment and network solutions, providing services in 140 countries.

The Shandong High-Speed Group is a state-owned enterprise group dedicated to development of transport industry.

The Beijing Enterprises Hol­dings Limited is an integrated public utilities company with its core business covering city gas, water treatment and solid waste management.

Published in Dawn, May 18th, 2017

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