WASHINGTON: The leading US investors have shown a keen interest in exploring business opportunities in Pakistan.
A delegation of Institutional Investment, a top-notch US investment company that includes banks, credit unions, government-linked companies, pension funds, charities, hedge funds, REITs, investment advisors, endowments, and mutual funds as its clients met Pakistan’s Ambassador to the United States Masood Khan in Washington.
The US investors included Arlington County Employees’ Retirement System, Mission Square Retirement, Fairfax County Police Officers’ Retirement System, Bloomberg Philanthropies, Pennsylvania State University, Matthew Asia, T. Rowe Price, Metlife Investment Management, and others.
During the meeting with the ambassador, they asked questions related to setting up business in Pakistan in various areas including infrastructure, IT, Fintech, agriculture, retail market, telemedicine, robotics and services.
They also inquired about Pakistan’s strategy for ensuring food security and meeting various requirements in the wake of Pakistan serving as regional hub for connectivity and trade.
Talking to the leading US investors, Masood Khan has said that the emerging market of 220 million people with its unique geo-economic location serves as an ideal destination for the US investors and business community not only to undertake profitable business ventures within Pakistan but also to relocate their value chains to Special Economic Zones (SEZs) of the Country for exports to Gulf region, West Asia, Europe, and Africa.
“We are committed to offer international investors all possible support and a congenial environment to explore the untapped potential of a huge market and rich human capital. Our focus on promoting export-oriented industries in Special Economic Zone has created opportunities for win-win solutions for our two Countries,” the ambassador said.
Ambassador Masood Khan underscored the need for sustaining the existing momentum to build robust economic partnerships.
“The success stories of US firms operating in Pakistan like Abbott, Coke, PepsiCo, P&G and Cargill etc., provide a solid basis to broaden our ties,” he said.
The ambassador pointed out that Pakistan’s export to the US have shown a steady increase. He said that given availability of a large number of IT professionals and skilled manpower, the US firms could use Pakistan’s human resource for businesses process offshoring in the field of IT, software development, accounting and healthcare management system etc.
“The US corporate sector could reap tremendous dividends by manufacturing their products in Pakistan and exporting them to its neighborhood,” he said.
Ambassador Masood Khan also highlighted various steps taken by the government to improve ease of doing business, making regulatory regime business friendly and some landmark policy decisions to offer maximum returns and financial incentives to the export-oriented foreign companies.
“Initiatives like simplification of tax regimes, incentives for new businesses, establishment of SEZs and STZs, liberalization of visa regime etc., illustrate our keenness to become an attractive destination for investment,” he said.
The ambassador also projected recent gains of economy especially in tech sector that has witnessed a remarkable growth in past few months. The tech sector of Pakistan has earned over US$ 700 million in past 18 months and is projected to further grow in the coming months.