Islamabad, Oct 4: Pakistan’s Success Depends on Investor Support and a Sustainable Investment Climate. Azfar Ahsan, the former chairman of the Board of Investment (BOI), stressed on Friday that encouraging and assisting current investors was essential to building a long-term investment climate in Pakistan.
He emphasized how important it is to have a thorough plan in place in order to draw in both domestic and overseas investors. According to a news release, Azfar Ahsan was the guest speaker at a special presentation on “Pakistan’s Investment Landscape: Challenges, Opportunities, and Way Forward” hosted by the Institute of Strategic Studies Islamabad (ISSI) and sponsored by the China Pakistan Study Centre (CPSC).
He was a fervent supporter of a long-term national strategy that included developing a “country strategy” to bolster investor confidence and guarantee economic stability.Ahsan emphasized the significance of fundamental changes in every area of the economy.
He maintained that Pakistan ought to abandon its reactive tactics and concentrate on fostering an atmosphere that is conducive to investment and enterprise. “This calls for a commitment to strengthening institutional capacity, infrastructure, governance, and law and order, as well as consistent policy frameworks that remain in place notwithstanding political shifts.”
He pointed out that these initiatives would not only draw in fresh foreign direct investment (FDI) but also, and this was vitally crucial, improve ties with current investors. Azfar Ahsan also emphasized the possibility of joint ventures between foreign and Pakistani investors, especially in the manufacturing, technology, and agricultural sectors.
The speaker highlighted Pakistan’s advantageous location and youthful populace as valuable resources that could be utilized to fuel future expansion. He urged policymakers to take a cue from neighboring nations like China and Uzbekistan, whose rapid economic development has been fueled by strategic planning and cooperation with multinational corporations.
Additionally, he emphasized how crucial it is to learn from Saudi Arabia’s experience and collaborate closely with Saudi officials in order to dramatically raise the Kingdom’s investment profile in Pakistan.
In his remarks, ISSI Director General Sohail Mahmood underlined Pakistan’s distinct assets, highlighting its advantageous location at the intersection of several important regions, including the Middle East, Central Asia, and South Asia.
He reminded out that Pakistan’s youthful population offers an unrivaled demographic advantage, while its abundant natural resources making it an appealing destination for investment. Sohail Mahmood also recognised the obstacles that Pakistan has in reaching its full investment potential.
Although Pakistan’s ease of doing business ranking had improved, he pointed out that there were still major obstacles to overcome, such as complicated regulations and worries over policy continuity. “These elements add to investor hesitancy, along with persistent perceptions of security issues.”
He did, however, voice optimism that industries like textiles, agriculture, and IT were ready for increased investment despite the difficulties. In order to draw in long-term investments, he emphasized the value of building trust and stability and urged cooperation among all parties involved.
Includes the media, public society, corporate executives, government agencies, and the private sector to foster sustainable growth and make Pakistan a really alluring destination for investments. Prior to this, Dr. Talat Shabbir, the director of the China Pakistan Study Center, emphasized Pakistan’s enormous potential in spite of the country’s present economic difficulties in his opening remarks.
He underlined how better infrastructure and tax breaks provided by Special Economic Zones (SEZs) created as part of the China-Pakistan Economic Corridor (CPEC) help draw in international investment. In his closing remarks, former Air Chief Marshal Sohail Aman emphasized the crucial relationship between economic success, security, and stability.
He also pointed out that Pakistan’s advancement is contingent upon fostering an atmosphere that encourages international investment. He stressed the need for a coordinated strategy and the critical role that leadership plays in promoting long-term economic stability. Corporate executives, senior government employees, scholars, practitioners, experts from think tanks, members of the media, and representatives of civil society all attended the discussion.
