Pak-France Business Council keen to invest in agri, IT sectors
President Mamnoon Hussain Tuesday said Pakistan was a market of unlimited opportunities owing to its strategic location and would serve as Asia’s premier trade, energy and transport corridor.
He said this while talking to a delegation of businessmen and companies from diverse business backgrounds, led by Chairman France-Pakistan Business Council of MEDEF International Thierry Pflimlin here at the President House.
French ambassador and other senior officials were also present on the occasion.
The president said all sectors of economy were open for investment and level playing-field was provided to local and foreign investors whereas visa on arrival facility was allowed for 69 countries. A statement from the media wing of the Aiwan-e-Sadr quoted the president as saying Pakistan was the gateway to energy rich Central Asian States, the financially liquid Gulf States as well as China.
He said Pakistan had adopted a very liberal and investor friendly investment policy which allowed 100% repatriation of capital, profits and dividends as well as exemption of taxes on import of plant, machinery and equipment.
He said there were over 1000 multinational companies (MNCs) profitably operating in Pakistan which consider Pakistan as a most profitable country.
The president said abundant investment opportunities were available for foreign investors in the development of Pakistan’s communication sector especially the Railways, international airports, highways and motorways under public private partnership.
He said Foreign Direct Investment was fully protected under the federal law. He urged foreign investors to take advantage from lucrative investment policy of Pakistan by investing in its various sectors to the mutual benefit of all.
He said Pakistan and France enjoy excellent bilateral relations and recalled that Pakistan was the second largest export partner for France in South Asia. He expressed the optimism that bilateral ties between the two friendly countries would reach new heights in future through cooperation in various fields.
Chairman France-Pakistan Business Council of MEDEF International, Thierry Pflimlin appreciated the sound economic and fiscal policies of the government and said the country’s economy was reviving and was being acknowledged by leading financial institutions of the world. He said Pakistan had the potential to emerge as a leading regional economy and added his country was keen to further expand bilateral relations with Pakistan.
Meanwhile, In a meeting with Minister for Commerce, Engr. Khurram Dastgir Khan here, Chairman Pakistan-France Business Council Thierry Pflimlin observed that delegation was interested in investment in Agriculture and IT sectors and maintained that the delegation would positively consider the minister’s proposals
The visiting delegation of Pakistan-France Business Council expressed keen interest to investment in agriculture and information technology sectors in Pakistan. Pakistan proposed Pakistan-France Business Opportunities Conference to boost bilateral trade between both the countries.
On the occasion, Minister for Commerce proposed Pakistan-France Business Opportunities Conference to boost bilateral trade between both the countries. He also maintained that Pakistani market was mostly unexplored and has huge potential, thus offers lucrative investment opportunities. The minister proposed to the delegation to make investment in the high potential sectors like E-commerce, Information Technology, Logistics and Infrastructure.
Dastgir khan also proposed Pak-French Business Opportunities Conference (BOC) to ensure business to business interaction and to further boost the trade. As a result of GSP Plus facility, Pakistan’s exports to EU are showing increasing trend. Pakistan’s exports have increased from 4.53 billion Euros in 2013 to 6.01 billion Euros in 2015.
This is an increase of 1.48 billion Euros which represents a growth of 33 percent in the exports of Pakistan in the Single Market of European Union. Pakistan’s export to France has increased from 375.9 million Euros in 2013 to 423.9 million Euros in 2015 that represents an increase of 12 percent in the exports of Pakistan to France.