Many European MNCs set to invest in Pakistan

Foreign investors will meet PM Imran soon for announcing investments

LAHORE: Scores of world-renowned multinational companies of Europe are poised to make investment in Pakistan in order to take benefit of the country’s prudent and business-friendly policies, announced Prime Minister’s Spokesperson on Trade and Investment for the UK and Europe Sahibzada Aamir Jahangir.

The newly appointed PM’s spokesperson made the remarks while talking to Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq during a visit to the FIEDMC camp office. He was accompanied by Punjab Chief Minister’s Spokesperson Dr Shahbaz Gill.

“With abundant workforce and business-friendly policies, Pakistan offers lucrative investment opportunities to local and foreign investors,” he said. He praised the business community for playing an important role and pointed out that the government was taking bold steps to ensure business and investment-friendly environment in the country as it was vital for economic progress and prosperity. “Our industrialists and businessmen should focus on export-oriented products because increase in exports is pivotal for economic stability,” he stressed.

Jahangir pointed out that approximately 3.5 million Pakistanis were settled in Europe, of which around 1.5 million were residing in the UK alone. They could make investment in the fields of information technology, telecommunications, infrastructure development, education and food preservation technologies and the government, especially the FIEDMC, would provide all facilities to them.

MNCs to transform strategy in line with changing policies

He said many delegations of foreign investors were scheduled to meet Prime Minister Imran Khan shortly to make announcement for investment in various sectors to steer Pakistan out of the financial crunch. Jahangir said Pakistani expatriates in Europe and the UK were keen to make investment of billions of dollars in Pakistan and in that regard, he had chalked out a comprehensive strategy in consultation with them.

“Pakistan is particularly interested in transfer of technology for which expatriate Pakistanis will have to play their role; exchange of business delegations and holding single-country exhibitions can boost bilateral trade,” he added.

The PM spokesperson said the good thing was that overseas Pakistanis would also bring their experience and knowledge along with the money. “We have identified the fields of cooperation which include agriculture, food processing, hydroelectric power and renewable energy, digitisation of industry, electronics, information technology, LNG storage and re-gasification, etc.”

Praising CPEC, he said that European investors could bring investment for cooperation with Pakistan in the mega project. 

Published in The Express Tribune, July 16^th, 2019.

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