Italian investors urged to invest in agro-based industries

LCCI official says businessmen can benefit from investment-friendly climate

LAHORE: The international community has agreed that Pakistan is a great country with a bright future and the grim picture being portrayed by some elements has nothing to do with the reality, said Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Ali Hussam Asghar.

Speaking to an Italian delegation, which included Centre for International Studies Director Gabriele Lacovino and Senior Analyst Fancesca Manenti, on Saturday, he said that Pakistan was a peace loving country with immense economic potential. “Pakistan is ready to accommodate multinational companies and international investors while ensuring unmatched business facilitations to them,” he added.

The LCCI official said that Pakistan had jumped 28 places on the World Bank’s Ease of Doing Business (EODB) Index to reach 108th place and also secured a place among the top 10 countries with most improved business climate.

According to him, this was ample proof that Pakistan was moving on the right track. Speaking about trade related issues, he pointed out that Italy had been very supportive to Pakistan within the European Union (EU).

Citing potential sectors, he said Italian investors could invest in agro-based industries, construction, mining, textiles and tourism sectors while Pakistan could contribute and find complimentary areas in design and fashion in Italy. Other sectors included IT and telecommunication, he maintained.

Asghar added that Italian businessmen could also take advantage from investment-friendly climate of Pakistan which offered best return on foreign investment with economic policies providing legal protection.

“Despite ups and down and other problems in Pakistan’s economy, not a single foreign investor had suffered in the country,” he said. “It is high time for Italians to make investments in Pakistan which is rapidly transforming into a hub of economic activity in the region.”