The number of Pakistani companies investing in Ras Al Khaimah Free Trade Zone of the United Arab Emirates (UAE) has jumped phenomenally over the last two to three years and today it is the third largest investor after India and United Kingdom, says Azfar Saeed, Sales Executive of the free trade zone.
Talking to a group of journalists here on Wednesday, he said earlier Pakistan was the fourth largest investor, but it left Egypt behind and got the third position as more businessmen came to invest in the zone.
Pakistani businesses represent 7% of registered companies in the trade zone, where more than 5,000 companies from 138 countries are registered.
Saeed said 469 investors had so far registered with the free zone from Pakistan and the number of investors was increasing. Analysts say many businessmen have invested outside Pakistan over the last few years because of security fears, which could be worrisome if they take out investment from the country.
Replying to a question, he said trading companies led Pakistani investors with a share of 50 to 55 per cent while consultancy firms accounted for over 20 per cent. Manufacturing companies were also interested in investing in the trade zone.
Published in The Express Tribune, November 24th, 2011.
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Well that's history now. Even in Musharraf''s tenure, investors were willing to invest in Pakistan.
I remember the time of PMLN particularly 2nd tenure when hot topic among business community around the world was 'How can I invest in Pakistan?'.