OICCI to invest $5b in Pakistan
According to an official, Overseas Chambers Companies have planned to invest $3 to $5 billion in next 3 to 5 years in Pakistan whereas these companies had invested $1 billion during last financial year 2011-12.
“This is a very positive move that overseas chambers Companies have planned to invest billions of dollars in Pakistan despite the fact that Pakistan is facing many difficulties in way of promoting investment in country,” added the official.
Overseas Investors Chambers of Commerce and Industry (OICCI) established about 150 years ago and it is the oldest investment chambers, promoting and protecting the interests of foreign investors and contributing towards the growth of commerce and industry in Pakistan.
OICCI was established in 1860 as a representative body of foreign investors. It has 175 member companies representing major sectors of the economy. OICCI’s main areas of action include acting as an information resource, investment promotion, advisory, representation on various councils and committees, dialogue with government in process of policy reform and procedure rationalization, business group meetings, forums, seminars, conferences, surveys, trade certification, publishing reports, identification of business opportunities and problem solving for foreign investors.