JEDDAH: Pakistan is a country of opportunities for investment, as it offers a “very liberal, conducive and profit-earning” environment.
Syed Naveed Qamar, minister of finance, investment and privatization, made this assertion on Tuesday as he wooed potential investors during the second day of “Saudi-Pak Investors’ Conference” at the Jeddah Chamber of Commerce & Industry (JCCI).
He said government was committed to facilitate and encourage investors. The first session was held in Riyadh on Monday.
“Pakistan is a country of 180 million people, the time has come to strengthen the relationship between the two nations through trade, commerce and investment,” said Qamar.
The minister also highlighted the energy problems in the country and urged Saudi investors to invest in this sector and light up Pakistan.
“Besides agriculture, Pakistan has a lot to offer to foreign investors, especially in engineering, power, horticulture and manufacturing sectors. Our government assures complete support and cooperation to investors and welcomes them to look at Pakistan as the destination of preferred investment,” Qamar said.
He also proposed a joint venture on marketing their products to a third country. Despite challenges in the recent past, Pakistan’s economy remains resilient, he said, adding Pakistan has also been ranked among the seven attractive emerging markets offering a wide range of investment opportunities.
Mazen Mohammad Batterjee, deputy chairman, JCCI, welcomed the delegation, and said: “We’ve special relations with Pakistan and we have shared values both at regional and international levels.”
“We expect more business from Pakistan in future,” he said, noting Pakistan is the third largest exporter to the Kingdom. “I hope these conferences will bear fruit.”
With amendments to SAGIA rules, investment has become more convenient and with the construction of new economic cities in the Kingdom, Pakistani investors can also invest in new projects. Saudi Arabia has become a business hub and Pakistani investors can expand their business up to western African countries by utilizing their potential through Saudi markets, said Mazen.
Tanvir Ahmed Shaikh, president of the Federation of Pakistan Chambers of Commerce and Industry, highlighted the areas of investment in Pakistan.
Pakistan is the fourth largest country in cotton production while the investment can be injected in halal (Islamic) food.
Iqbal Ahmed, secretary of Board of Investment, projected Pakistan-Saudi Arabia ventures in “One Soul” program on the screen of the auditorium. He also told the audience of investment opportunities in different businesses in the major cities of the country.
