The United States Consulate in Karachi on Monday invited Pakistan companies to participate in next year’s SelectUSA Summit, the highest profile event in the US to facilitate business investment by connecting thousands of investors, companies, economic development organizations (EDOs) and industry experts.
The SelectUSA Investment Summit draws more than 5,000 attendees and will be held next year from May 11-14 in National Harbour, Maryland, where Pakistani companies can expect to meet EDOs representing the US states and territories, more than 2,500 business investors with representation from over 90 international markets, and industry experts who can provide insights and advice on how local companies can move into the US market. “We look to Pakistan to bolster the US economy through our SelectUSA program, which promotes foreign direct investment in the United States,” U.S. Chargé d’Affaires Natalie Baker said on Monday at the Fifth Pakistan-America Business Forum Summit held in Islamabad.
“SelectUSA is a valuable opportunity for companies … that are now looking to take their business to the next level by expanding operations into the United States. I hope all of you will consider participating in our next SelectUSA Summit.”The US is Pakistan’s largest export market, accounting for 16 percent of its annual exports. Over 80 US firms operate in Pakistan, directly employing 120,000 Pakistanis and supporting over a million others. Since 2021, USAID initiatives have contributed $13 million (Rs3.6 billion) in foreign direct investment and boosted US-Pakistan bilateral trade by $41 million (Rs11.42 billion).“This economic relationship is important for the United States – that’s why we continue to invest in Pakistan. We recognize Pakistan’s enormous potential.
It is one of the world’s most populous countries, with a growing and dynamic young population,” Baker said, adding that she saw economic opportunities for Pakistani companies in the US, especially in sectors like technology, business, trade, climate resilience, and security. “If Pakistan realizes its potential in these areas for growth and development, the result will not only benefit Pakistan, but also the region and the world,” she added.
The diplomat also highlighted the USAID’s Pakistan Investment Promotion Activity in 2021, a project that organized Pakistan Investment Roadshows in Dubai, Riyadh, New York, San Francisco, and Washington, showcasing 48 companies that are now engaged directly with international investors. “Many of these investors are part of the Pakistani diaspora,” she said. “Collectively, these initiatives have helped firms raise $13 million in foreign direct investment, while increasing US-Pakistan bilateral trade by $41 million and generating $14.5 million in private sector investment.”
