Sarhad Chamber of Commerce and Industry has urged the Khyber Pakhtunkhwa government to develop a long-term investor-friendly policy to attract foreign investment, particularly from China, during a roundtable conference attended by officials, investors, and business stakeholders in Peshawar.
SCCI urges KP Govt to introduce long-term investment-friendly policy
PESHAWAR, May 08 (APP):The Sarhad Chamber of Commerce and Industry (SCCI) has urged the Khyber Pakhtunkhwa government to formulate a long-term investor-friendly policy to attract foreign investment, particularly from China, and address key challenges faced by the business community in the province.
The demand was made during a roundtable conference held at the provincial Civil Secretariat, attended by senior officials of the SCCI, Planning and Development Department of the Khyber Pakhtunkhwa government, investors, business representatives and other stakeholders.
Senior Vice President of SCCI Muhammad Nadeem Rauf and Secretary General Muqtasid Ahsan represented the chamber in the meeting.
The conference aimed to identify and shortlist viable investment proposals for inclusion in the provincial pitch book and future business-to-business engagements with China.
Participants from agriculture, minerals, ICT, energy, manufacturing and allied sectors discussed investment opportunities and highlighted various issues hindering foreign investment in the province.
Speakers at the moot observed that unpredictable and regressive policies, including Infrastructure Development Cess, administrative hurdles, non-market factors and the prevailing NOC culture, were among the major reasons behind the flight of capital and investment from Khyber Pakhtunkhwa.
The participants also pointed out that security concerns and restrictions on the movement of foreigners were adversely affecting investment prospects in the province.
SCCI officials and stakeholders stressed the need for pragmatic measures to address the genuine grievances of the business community and restore investors’ confidence.
They urged the government and relevant authorities to extend full cooperation to businesses and facilitate the transition from a consumption-led economy to a self-sustained and export-oriented provincial economy.
Senior government officials assured participants of their support in removing hurdles to Chinese investment and pledged cooperation for the upcoming SCCI Award Ceremony in Uzbekistan.
Speaking on the occasion, SVP Muhammad Nadeem said the chamber would share its recommendations and proposals for inclusion in the provincial government’s pitch book aimed at attracting Chinese investment to Khyber Pakhtunkhwa.
