US firms asked to explore investment avenues in Pakistan

Soomro highlights government efforts to lure foreign investment through one-window facility

ISLAMABAD: US companies should explore the investment-friendly business environment in Pakistan for lucrative capital injection into the country, remarked Privatisation Minister Mohammadmian Soomro.

The minister, who is currently on a visit to the United States, held meetings with some of the most reputable US companies interested in investing in Pakistan, according a statement issued on Thursday.

During his meeting with board members of Tishman Speyer, the minister underlined that Pakistan government was facilitating foreign investment through a one-window transparent operation. Tishman Speyer manages properties worth $70 billion around the world.

The minister also met US AAK Group Chief Executive Officer Kaiwen Lin and urged him to visit Pakistan and assured him of full cooperation in exploring investment opportunities in real estate.

The company has recently invested $2.5 billion in the low-cost housing sector in Ghana. A delegation of the company has visited Pakistan recently to explore investment opportunities.

“This is a new era in our economic history where facilitation of businessmen is a priority,” the minister emphasised and elaborated that Pakistan offered opportunities based on economic reforms being introduced by the government aimed at putting the economy on right track. The minister said a one-window facility was being introduced at the Prime Minister’s Secretariat for foreign businessmen in order to ensure a smooth process for trade and investment facilitation.

He pointed out that the government was focusing especially on the agriculture sector, which offered immense investment opportunities.

The minister also held a meeting with Gary Barnett, President of Extell Development Company - the builders of the tallest residential building in the world.

Company executives, which met the minister, expressed keen interest in investing in Pakistan and agreed to participate in the privatisation process.

Published in The Express Tribune, September 20^th, 2019.

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