President sees huge potential to boost investment in Pakistan

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President Dr Arif Alvi has said that there exist great economic potential in Pakistan, a market of 220 million people, and investment opportunities.

He stated this during ceremony held at Aiwan-e-Sadr on Tuesday during which the newly appointed envoys of Canada, Austria, Syria, Serbia, and the Slovak Republic presented their credentials to President and later during separate meetings held with ambassador designates.

The High Commissioner-designate of Canada, Ms Leslie Scanlon, Ambassador-designate of Austria, Mrs Andrea Wicke, Ambassador-designate of Syria, Dr Ramez Alraee, non-Resident Ambassador-designate of Serbia, Mr Dragan Todorovic, and non-Resident Ambassador-designate of Slovak Republic, Mr Ladislav Ballek, also made separate calls on the President.

Speaking during meeting with the Ambassador of Canada, President Alvi highlighted that there exist great economic and investment opportunities in the country and the Canadian businesses would be encouraged to explore the opportunities available in Pakistan.

He further said that the resolution of the Reko-Diq project was a positive development, and expressed the hope that it would encourage further Canadian investment in Pakistan.

The President stated that Pakistan and Canada enjoyed cordial and friendly relations and that Pakistan looked forward to greater bilateral cooperation in the areas of the economy, commerce, and investment.

While welcoming the Austrian Ambassador, the President said that Pakistan attaches high importance to its relations with Austria, both bilaterally and in the context of the European Union.

He informed that Pakistan’s investment regime was very liberal, and Austrian companies should benefit from it and consider making investments in the Special Economic Zones being set up all over the country.

He further said that Pakistan offered significant opportunities for investment in the fields of hydropower, railways, communication, renewable energy, and waste management technologies.

He added that there were ample opportunities for cooperation in start-ups and information technology sectors, and expressed hope that the two countries work towards enhancing cooperation in these fields.

The President also urged the need to further enhance bilateral trade and economic cooperation, adding that the true potential of bilateral trade was still unrealized.

He noted that Austria has remained supportive of Pakistan’s GSP+ status, Pakistan looked forward to Austria’s continued support towards the successful completion of the ongoing 4th biennial review and for the new GSP Plus Scheme post-2023.

The President underscored that Pakistan would like to work together with its international partners, including Austria, to address the global issue of climate change.