PM tells Bahraini businessmen to avail of CPEC’s immense opportunities

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APP60-29 ISLAMABAD: March 29 - H.E. Zayed R. Alzayani, Minister for Industries, Commerce & Tourism, Kingdom of Bahrain called on Prime Minister Muhammad Nawaz Sharif at PM Office. APP

ISLAMABAD, March 29 (APP): Prime Minister Muhammad Nawaz

Sharif Wednesday said the government of Bahrain as well as its
business community could benefit immensely from the
opportunities and prospects of China Pakistan Economic
Corridor (CPEC).
He said the CPEC is a corridor of energy, roads,
motorways, pipelines, rail networks and optic fiber with an
investment outlay of over US$ 51 billion.
The Prime Minister was talking to a high level
delegation comprising prominent businessmen and investors from
Bahrain that called on him here at the PM Office, said a press
release.
Minister for Industries, Commerce & Tourism, Kingdom of
Bahrain Zayed R. Alzayani was also present on the occasion.
The Bahraini business delegation was led by Khalid Almoayed,
Chairman, Bahrain Chamber of Commerce and Industries (BCCI).
The Prime Minister further said the CPEC was not only a
framework of regional connectivity, but also a game changer
for the region.
He said the economic outlook of Pakistan has altogether
changed in the last three years, which was being acknowledged
by independent financial rating institutions.
“My government after coming into power started making
best of its efforts to put the economy on a path of sustained long-
term economic growth. In this context, focus remained on
public-private partnership in the development process,
improved productivity in agriculture sector, removal of energy
shortage, enhanced industrial competitiveness, better service
delivery system and upgraded human capital formation”, the
press release quoted the Prime Minister as saying.
He said Pakistan was open for business and there were
over one thousand multinational companies profitably operating
in Pakistan.
They enjoyed a level playing field with the domestic
investors and did not face any barriers to entry or exit. They
could expand capital and infrastructure without hindrance, he
added.
“I am confident that investors from Bahrain will benefit
from opportunities arising from the economic growth of
Pakistan leading to further growth of our trade relations” he
added.
The prime minister said the Foreign Direct Investment
(FDI) was protected under law through the acts of Parliament
and the Law of Special Economic Zones has been made to meet
the global challenges of competitiveness to attract FDI.
The Law allowed creating industrial cluster with liberal
incentives, infrastructure, investor facilitation services to
enhance productivity and reduce cost of doing business for
economic development and poverty reduction, he added.
The Prime Minister assured the delegation that Pakistan
was a land of unlimited opportunities and offered investment
opportunities in various sectors such as energy, agriculture,
food processing, infrastructure, information and communication
technology, textiles, apparel, surgical instruments and
leather products.
He said Pakistan welcomed the initiative of establishing
the Pakistan-Bahrain Joint Holding Company by Bahraini
Businessmen.
“We are confident that it will be successful in
increasing bilateral trade and investment,” he added.
Minister for Finance Muhammad Ishaq Dar, Minister for
Commerce Engineer Khuram Dastagir Khan,Pakistan ambassador to
Bahrain Javed Malik, and other senior officials were also
present during the meeting.
The Bahraini businessmen appreciated the Prime
Minister’s policy of welcoming foreign investment and said
that they were keen to play an active role in expanding the
volume of trade between both countries.
The Bahraini delegates expressed their keen interest to
take part in Pakistan’s emerging economy and highlighted their
interest in further expanding exports from Pakistan for Gulf
counties.
The Bahrain Chamber of Commerce and Industries
delegation thanked the Prime Minister for his warm welcome to
Pakistan and expressed the hope to further strengthen trade
ties with Pakistan.
The business delegation of Bahrain comprised Khalid Al
Zayani, Vice Chairman BCCI, Sheikh Mohamad Bin Isaac, Senior
Member BCCI, Muhammad Sajid, Executive Board Member BCCI,
Muhammad Usman, Chairman Joint Council BCCI, Ahmed Bin Hindi,
Executive Board Member, Ali Ahmed Bufarson, Member Parliament,
Ahmed Al Saloom, Chairman SME Council, Ferial Nas, Chairperson
of Business Council, Suhair Bokhammas, Member BCCI and others.