The event attracted a high-profile attendance as it saw several CEOs and representatives of approximately 80 companies present there. DESIGN: CREATIVE COMMON
ISLAMABAD: Pakistan’s High Commissioner in Singapore Syed Hasan Javed has said that in a swiftly evolving global environment, Pakistan is seen by foreign investors as a major untapped market.
Javed spoke at a seminar on “Construction Opportunities and Doing Business in Pakistan”, jointly organised by the Building and Construction Authority (BCA) of Singapore and Pakistan High Commission on Thursday.
The event attracted a high-profile attendance as it saw several CEOs and representatives of approximately 80 companies present there. These companies included real estate developers, engineering firms, logistics and infrastructure firms from Singapore, China and Pakistan.
Javed stated that Pakistan being the sixth largest populated country, with a large talent pool, advantageous geographical position and maritime wealth, is well-equipped to play an essential role in the future global economy.
He said Pakistan had several major infrastructure projects in the pipeline, including a plan to build low-cost housing units.
Javed added that as part of an investment plan envisaging capital expenditure of billions of dollars several motorways, industrial parks, supply chains, hypermarkets and hotels are planned to be ready by the year 2020.
He said construction companies desiring to explore Pakistan can benefit by investing in the country. “Pakistan holds immense potential for foreign investors who are looking for new growth avenues in construction, real estate, infrastructure and energy sectors, including sustained profit growth of 20-40% annually,” he said.
He clarified that all foreign investment was protected under the law of repatriation that allowed 100% repatriation of profit and dividend as well as 100% equity share.
BCA Group Director Koh Lin Ji said that both BCA and the Singapore High Commission were working hard to bring business communities of the two countries closer.
CPG Consultants Senior Vice President Frankie Lim Lip Chuan, while sharing his past experience, said that the security situation in Pakistan was not as bad as portrayed internationally.
Published in The Express Tribune, November 8th, 2013.
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