Pakistan globally acknowledged as attractive destiny for business, investment

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Pakistan globally acknowledged as attractive destiny for business, investment

ISLAMABAD, Feb 9 (APP): Finance Minister Mohammad Ishaq Dar Thursday said Pakistan was being acknowledged globally by the international media and financial community as an attractive destination for business and investment.
Extending warm welcome to a group of corporate and business leaders from around the world, currently on a visit to Pakistan to explore business and investment opportunities, he highlighted the report recently published by PricewaterhouseCoopers (PwC) which had projected Pakistan to become the 20th largest economy by 2030 and the 16th largest economy by 2050.
The finance minister also highlighted the report published earlier this
week by Barron’s which had described Pakistan as the ‘next big thing’ and ‘the flag bearer of the positive changes taking place in the South Asian nations.’
He said as a result of the investor friendly policies of the present government, and the economic turnaround achieved in the last three years,
various reputable international investors and companies, including Renault, Arcelik and FrieslandCampina, had been frequently visiting Pakistan and interacting regularly with both the private sector and public officials in Pakistan to explore business and investment opportunities.
He said the group’s visit to Pakistan was very timely and urged the members of the visiting group to also benefit from the business and investment opportunities available in the country extending the government’s full cooperation in this regard.
Dar said after having achieved macroeconomic stability, the government was now focusing on achieving higher, sustainable and inclusive growth.
He highlighted that the Gross Domestic Product growth was recorded at 4.7% in Fiscal Year (FY) 2016, an eight year high, and that the target was to achieve the GDP growth of over 5% in FY 2017.
He said as a result of the improved macroeconomic situation, the government had been able to tap the international bond, sukuk and equity markets over the past three years.
He said the resilience of the economy had also been recognised by international credit rating agencies in the form of improved ratings and outlooks.
The leader of the delegation, Zia Chishti of the Resource
Group, informed the finance minister that the group was visiting
Pakistan to explore business and investment opportunities and also to visit the beautiful areas in the North of Pakistan.
He thanked the finance minister, on behalf of the visiting group, for the government’s hospitality.
He conveyed that the visiting group acknowledged the success
of the economic reforms agenda of the present government over the past three and a half years, and the increased opportunities for business and investment that had resulted due to the successful economic turnaround.