DAVOS, Switzerland: Prime Minister Nawaz Sharif Friday invited Swiss and international investors to Pakistan’s energy, telecom, infrastructure, urban development, agro-industry and textiles sectors that offer exciting opportunities for investment.
“I invite you to be our partners in realizing our vision for Pakistan. Our vision is of a Pakistan which is business friendly; a Pakistan where foreign investors feel safe and secure; and a Pakistan which is modern, progressive and forward-looking,” he told a group of investors here at a meeting.
“I assure you that my business-friendly government will extend all possible assistance to you in your business endeavours in Pakistan,” the prime minister said as he shared with the gathering, country’s greatly improved internal security situation, and robust economic indicators. He was speaking at a breakfast meeting, hosted by Ikram Sehgal, Chairman of the Pathfinder Group on “Pakistan -A land of Business Opportunities.”
Finance Minister Ishaq Dar, Commerce Minister Engineer Khurram Dastgir, Special Assistant to Prime Minister on Foreign Affairs Tariq Fatemi and Miftah Ismail attended the meeting along with around a hundred participants of the World Economic Forum.
The prime minister said investment incentives in Pakistan were diverse and business friendly. “Our primary objective is to create an environment conducive for investment inflows. We offer a liberal investment policy, which includes 100 percent equity ownership, full repatriation of capital, tax-breaks, and customs duty concessions on import of machinery and raw materials,” Sharif told the investors.
“We offer prospects of co-production, joint ventures with local partners and joint marketing arrangements. The taxation regime is one of the lowest in the region and its collection is undertaken through a dedicated Large Taxpayers Unit. A multiplicity of tax concessions is available along with provisions of tax exemptions to specific businesses,” he said.
Sharif told the investors gathered in the Swiss town for the 46th World Economic Forum that Pakistan’s economic upturn was now being acknowledged and appreciated worldwide.
“Leading international publications, funds managers and rating agencies have made positive assessments of our economic turnaround,” he added.
He said Pakistan was home to the 6th largest population in the world with 180 million people. He said Pakistan has 26th largest economy by purchasing power parity, 44th largest economy by real Gross Domestic Product and the 10th largest country in the world, according to the size of its labour force.
“With a thriving democracy, sound economic policies, a youthful population, abundant natural resources and its strategic location, Pakistan is poised to emerge as an economic powerhouse in the region. We are promoting accountable, responsible and transparent governance, bolstered by a free media, independent judiciary and a vibrant civil society.”
