ISLAMABAD:
The Islamabad Chamber of Commerce and Industry (ICCI) has expressed concern over the falling trend of foreign direct investment (FDI) in the country, which has declined by 26% during the first quarter of this financial year. The chamber has called upon the government to take urgent measures to improve FDI.
ICCI President Muzzamil Hussain Sabri said Pakistan received FDI of just $169 million during July to September 2014, which was highly disappointing. This has happened despite the fact that many sectors of the country’s economy including energy, infrastructure development, agriculture, oil and gas, mineral offer huge opportunities, but the government could not evolve a better strategy to attract potential investors due to which the FDI was diverting to regional countries.
He stated that lack of good governance, political turmoil and complicated business registration processes were the major factors behind the fall in FDI.
Published in The Express Tribune, October 19th, 2014.
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