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Economy update: Ambassador highlights investment climate

WASHINGTON: Pakistan’s Ambassador to the United States Jalil Abbas Jilani highlighted the investment opportunities offered in Pakistan...

Economy update: Ambassador highlights investment climate

WASHINGTON: Pakistan’s Ambassador to the United States Jalil Abbas Jilani highlighted the investment opportunities offered in Pakistan at a discussion with the Washington-based Business Council for International Understanding in an effort to woo investors and attract much-needed capital.
The discussion was arranged by Harris Corporation, a leading international communications and information technology company of the US, which has a significant presence in Pakistan.

Chief executive officers of leading American businesses and entrepreneurs were invited to participate in the discussion.

Jilani spoke about the steps the government had taken to facilitate foreign direct investment and promote businesses.

Owing to these measures, the ambassador said, Pakistan’s economy had been revived, inflation and fiscal deficit had come down and flow of foreign direct investment had increased.

“Moody’s has recently raised Pakistan’s rating from negative to stable and the World Bank has placed Pakistan ahead of many countries in the region on the Ease of Doing Business index.”

Jilani referred to various projects of regional connectivity including the Pakistan-China economic corridor, Casa-1000 power import scheme, TAPI gas pipeline and Afghanistan Pakistan Transit Trade Agreement (APTTA) and others.

“Completion of these projects will open up enormous opportunities for international investors in Pakistan,” he declared.

He invited investors to invest in Pakistan’s energy projects including Dasu and Diamer Bhasha hydropower projects. He also encouraged them to participate in the forthcoming Diamer Bhasha Business Opportunity Conference in Washington DC in October.

During the interactive session, the ambassador responded to various questions related to business opportunities in Pakistan including fields like health and education as well as development of female entrepreneurs.

Jilani stated that following the successful military operation in North Waziristan, the government was coming up with a plan of action to rehabilitate the internally displaced persons.

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