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Pakistan has emerged as the best destination for foreign investment: President Mamnoon

Addressing the annual dinner hosted by Rawalpindi Chamber of Commerce and Industry (RCCI) President Mamnoon Hussain said that Pakistan has emerged as the best destination for foreign investment owing to improved peace and conducive policies due to China-Pakistan Economic Corridor (CPEC). He said the presence of the diplomatic community in huge number manifested the effective contacts and professional relations between Pakistan and the international community.

ISLAMABAD: President Mamnoon Hussain Monday said Pakistan had emerged as the best destination for foreign investment owing to improved peace and government’s business friendly policies and invited the world particularly the neighbouring countries to join China Pakistan Economic Corridor (CPEC).Addressing the annual dinner hosted by Rawalpindi Chamber of Commerce and Industry here, the president said Pakistan had enacted legislation to facilitate domestic and International business making the country an attractive place for investment in the region.

Due to the very steps, Pakistan’s exports were also gradually growing due to these steps. Likewise, GDP growth rate had reached 5.3 percent which was the highest during last 10 years, he remarked.

The reception was attended by National Security Adviser Lt. General (Retd) Nasser Khan Janjua, President RCCI Zahid Latif Khan office bearers of the RCCI besides a huge number of members from the diplomatic community.

He was pleased to note that RCCI was fully mobilized towards the promotion of business activities in the country.

He said the presence of the diplomatic community in huge number manifested the effective contacts and professional relations between Pakistan and the international community.

He believed that cordial relations of the diplomatic community with industrial, trade and professional organizations of Pakistan and their fervent participation in such events reflected their positive impression about Pakistan.

He said various countries were desirous of increasing bilateral trade with Pakistan and the country would always welcome their interest and investment in the bilateral trade and joint ventures.

President Mamnoon said the secrets behind Pakistan’s success were comprehensive strategies and persistent counter terrorism policies.

He told the gathering that during past several years, Pakistan had suffered enormous losses of lives and properties due to terrorism. The government had worked diligently to improve the situation through robust diplomatic, political and administrative measures. He hoped that the unrest would be completely eradicated in near future.

Mentioning the adverse impact on national economy, industry and exports owing to energy crisis in the past, the president said power shortage for the industrial sector had been completely eliminated and industry was running at a satisfactory pace.

He said Pakistan’s exports had witnessed an increase of more than 11 percent during the current fiscal year due to these measures.

He invited the foreign countries to invest in various sectors including minerals, power, infrastructure, information technology, financial services, tourism, agriculture and mining.

President Mamnoon stressed for increasing the exchange of trade and business delegations so that they can take better decisions by acquiring awareness regarding the business and joint ventures.

He hoped that the diplomatic community based in Pakistan would play their role.

The president said Ministry of Commerce was working on Strategic Trade Policy Framework for the next five years which aimed at the proficient introduction of Pakistani products, improving regional connectivity and providing an enabling and friendly business environment.

He said the government had concluded several bilateral and multilateral trade agreements to secure better international market access for Pakistani products while several other agreements were under process.

He viewed that Free Trade Agreements and Preferential Trade Agreements had proved to be very efficacious in this regard by increasing bilateral trade with neighbouring countries.

He told the gathering that CPEC had created many attractive opportunities apart from the existing ones. This project would not only reduce distances among different countries of the region but it was also opening up invaluable avenues for the entire world.

He believed that the international community should consider investing in CPEC as it would not only lead to positive change in the business environment of this region but also the entire world.

Later, the president presented mementos to the RCCI President and diplomats in recognition of their services for enhancing trade linkages with Pakistan. Zahid Latif also presented the memento to the president.

President RCCI Zahid Latif and Group Leader Sohail Altaf also addressed the gathering and highlighted Chamber’s performance and efforts to enhance Pakistan’s exports and strengthen the national economy.

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