Pakistan is open for business: PM tells investors in Hong Kong

HONG KONG: Prime Minister Nawaz Sharif has termed Pakistan an emerging market and laid out the country’s business-friendly policies in front of foreign investors on Wednesday.

He was addressing participants at the One Belt, One Road Pakistan Investment Forum in Hong Kong attended by leading business figures from Mainland China and the Hong Kong Special Administrative Region.

"Pakistan is a gateway to energy rich Central Asia, oil rich Gulf and economically advanced Far East. It stands at the cross-roads of an economic revolution which would produce a win-win outcome for all," he said.

“The China-Pakistan Economic Corridor is (CPEC) a core component of [Beijing’s] One Belt, One Road Initiative,” he said, explaining that the project will shorten transportation distances, bring Africa and Middle East closer to the region and connect [China’s] Kashgar region to Central Asia and Europe.

The premier also said that we must raise our voice against those who are against this project.

He shared that nine Special Economic Zones are being established along CPEC route where foreign companies can invest in factories, warehouses, logistic centres and much more for consumption in the Pakistani market.      

Further laying out Pakistan’s ‘attractive’ features, he said it is the fourth-largest milk producing country in the world with the third largest livestock population.

He said the government has devised a comprehensive plan to create an investment-friendly environment. We have liberalised investment policies to welcome Foreign Direct Investment, offered incentives to attract new capital inflows including tax exemptions, tariff reductions and investment facilitation services, he stated.

Sharif stated that Pakistan's investment policy is focused on reducing the cost of doing business.

Ending his speech, he said “Pakistan is the sixth largest population in the world with a middle class of 80 million people. It is rich in human and natural resources and features attractive business policies. We are on track for rapid and inclusive sustainable growth. No global player should miss this opportunity”.

The conference was arranged by the Pakistan Consulate General in Hong Kong and the local government.

Meeting with Hong Kong chief executive

Pakistan and Hong Kong have agreed to further promote bilateral economic and trade ties.

The agreement came at a meeting between Prime Minister Nawaz Sharif and Hong Kong Chief Executive CY Leung in Hong Kong early Wednesday morning.

Speaking on the occasion, Sharif said Pakistan's liberal trade policy provides immense opportunities to foreign investors.

Sharif said Pakistan and Hong Kong have strong trade relations that need to be further enhanced, as there are immense opportunities in this sphere. He added that Pakistan and Hong Kong have brotherly relations and both sides are already cooperating in different fields.

Leung said Pakistan and Hong Kong have deep rooted relations and both sides need to promote economic cooperation.

Chairmen of the Shandong Hi-Speed Group Corporation and Chairman of ZTE Corporation also called on the Pakistan’s premier. Commerce Minister Khurram Dastgir and Board of Investment Chairman Miftah Ismail were also present on the occasion.