‘Foreigners driven away by terrorism, energy crisis’
Ambassador urges enhancing Pak-Swiss Business Council activity.
FAISALABAD:
Foreign investors are reluctant to invest in Pakistan due to the chronic energy shortage and deteriorating law and order situation, said Switzerland Ambassador to Pakistan Nicolas Plattner in a visit to the Faisalabad Chamber of Commerce and Industry.
Plattner said that Swiss companies have invested more than $1 billion over the years but they are reluctant to investment anymore.
The economic ties between Switzerland and Pakistan are built on solid ground, a reality which the present economic circumstances cannot change, he added. He suggested enhancing cooperation at the forum of Pak-Swiss Business Council in Punjab.
Trade between Pakistan and Switzerland had been gradually increasing until recent years and reached about half a billion Swiss francs in 2008, he added.
Swiss companies have come to this country with a long-term perspective as Pakistan is a market of 180 million people.
President FCCI Muzammil Sultan said that Faisalabad alone contributed about 40% of the country’s total textile exports and has a tremendous trade potential between the two countries.
In fiscal 2010, Switzerland was the fifth largest foreign direct investor into Pakistan with an investment of $170.6 million. This is proof that Pakistan has the potential for foreign direct investment, added Sultan.
Published in The Express Tribune, December 6th, 2011.
Foreign investors are reluctant to invest in Pakistan due to the chronic energy shortage and deteriorating law and order situation, said Switzerland Ambassador to Pakistan Nicolas Plattner in a visit to the Faisalabad Chamber of Commerce and Industry.
Plattner said that Swiss companies have invested more than $1 billion over the years but they are reluctant to investment anymore.
The economic ties between Switzerland and Pakistan are built on solid ground, a reality which the present economic circumstances cannot change, he added. He suggested enhancing cooperation at the forum of Pak-Swiss Business Council in Punjab.
Trade between Pakistan and Switzerland had been gradually increasing until recent years and reached about half a billion Swiss francs in 2008, he added.
Swiss companies have come to this country with a long-term perspective as Pakistan is a market of 180 million people.
President FCCI Muzammil Sultan said that Faisalabad alone contributed about 40% of the country’s total textile exports and has a tremendous trade potential between the two countries.
In fiscal 2010, Switzerland was the fifth largest foreign direct investor into Pakistan with an investment of $170.6 million. This is proof that Pakistan has the potential for foreign direct investment, added Sultan.
Published in The Express Tribune, December 6th, 2011.