Thursday, February 01, 2007
Foreign investments in Pakistan likely to grow
* PMââ¬â¢s foreign visits fruitful: minister
ISLAMABAD: Prime Minister Shaukat Azizââ¬â¢s visit to the World Economic Forum (WEF) in Davos and the official visit to Brussels were remarkably successful, said Zahid Hamid Privatisation and Investment Minister and a member of the prime ministerââ¬â¢s official entourage, on his return from Brussels, Belgium here Tuesday.
He said that foreign investors expressed great interest in Pakistan and appreciated the investment-friendly policies and outstanding economic performance of the country during last several years particularly rate of growth and record levels of foreign investment.
The recent mergers and acquisitions in the financial and telecom sectors in Pakistan in particular were frequent topics of conversation among the international business community. In a meeting with the prime minister, renowned Professor Michael Porter of Harvard Business School disclosed that according to a recent survey Pakistan was ranked much higher than its neighbours in so far as dynamism, competitiveness and ease of doing business are concerned.
Zahid Hamid said that Pakistan was now very prominent on the radar screen of international investors and they were closely monitoring its progress and development on the economic and investment front.
The chief executives of the a number of leading institutions such as Carlyle Group, Barclays, Metro Cash & Carry, Nestle, Nike, Unilever, Seimens and others appreciated the governmentââ¬â¢s economic reforms and expressed their intentions to either make fresh investment or further increase their investment through expansion in their operations in Pakistan, thereby taking advantage of the investment friendly, attractive and liberal economic policies, which provided remarkable incentives to the investors for growth of their businesses.
Carlyle Group of UK, which manages a major private equity fund, indicated that they would be earmarking funds for investment in Pakistan. Similarly, Chief Executive of Nestle informed the Prime Minister of their plans to substantially enhance their operation in Pakistan by increasing their investment. Metro Cash & Carry also plans to establish retail outlets all over the country. Unilever and Seimens also discussed future plans involving enhanced investments.
Elucidating details of the WEF held in Davos, Zahid Hamid said that the prime minister held 45 important meetings in three days with the heads of state and governments, chief executives of multinational companies and representatives of non-governmental organizations, civil society and print and electronic media.
The prime minister participated in panel discussions on terrorism, nuclear proliferation, womenââ¬â¢s empowerment and inter-religion harmony. He also held meetings with the president of Switzerland and the prime ministers of Malaysia, Egypt, Vietnam and Ukraine apart from many other diplomats and political leaders.
Zahid Hamid further informed that the prime minister had a number of useful meetings in Brussels with overseas Pakistanis and foreign investors and delivered major policy addresses to European Unionââ¬â¢s Committee on Foreign Affairs of the European Parliament and NATO Council and met with the European Union president, and EU high representatives on foreign and security policy, and commissioners on trade and external relations.
http://www.dailytimes.com.pk/default.asp?page=2007\02\01\story_1-2-2007_pg5_14
Foreign investments in Pakistan likely to grow
* PMââ¬â¢s foreign visits fruitful: minister
ISLAMABAD: Prime Minister Shaukat Azizââ¬â¢s visit to the World Economic Forum (WEF) in Davos and the official visit to Brussels were remarkably successful, said Zahid Hamid Privatisation and Investment Minister and a member of the prime ministerââ¬â¢s official entourage, on his return from Brussels, Belgium here Tuesday.
He said that foreign investors expressed great interest in Pakistan and appreciated the investment-friendly policies and outstanding economic performance of the country during last several years particularly rate of growth and record levels of foreign investment.
The recent mergers and acquisitions in the financial and telecom sectors in Pakistan in particular were frequent topics of conversation among the international business community. In a meeting with the prime minister, renowned Professor Michael Porter of Harvard Business School disclosed that according to a recent survey Pakistan was ranked much higher than its neighbours in so far as dynamism, competitiveness and ease of doing business are concerned.
Zahid Hamid said that Pakistan was now very prominent on the radar screen of international investors and they were closely monitoring its progress and development on the economic and investment front.
The chief executives of the a number of leading institutions such as Carlyle Group, Barclays, Metro Cash & Carry, Nestle, Nike, Unilever, Seimens and others appreciated the governmentââ¬â¢s economic reforms and expressed their intentions to either make fresh investment or further increase their investment through expansion in their operations in Pakistan, thereby taking advantage of the investment friendly, attractive and liberal economic policies, which provided remarkable incentives to the investors for growth of their businesses.
Carlyle Group of UK, which manages a major private equity fund, indicated that they would be earmarking funds for investment in Pakistan. Similarly, Chief Executive of Nestle informed the Prime Minister of their plans to substantially enhance their operation in Pakistan by increasing their investment. Metro Cash & Carry also plans to establish retail outlets all over the country. Unilever and Seimens also discussed future plans involving enhanced investments.
Elucidating details of the WEF held in Davos, Zahid Hamid said that the prime minister held 45 important meetings in three days with the heads of state and governments, chief executives of multinational companies and representatives of non-governmental organizations, civil society and print and electronic media.
The prime minister participated in panel discussions on terrorism, nuclear proliferation, womenââ¬â¢s empowerment and inter-religion harmony. He also held meetings with the president of Switzerland and the prime ministers of Malaysia, Egypt, Vietnam and Ukraine apart from many other diplomats and political leaders.
Zahid Hamid further informed that the prime minister had a number of useful meetings in Brussels with overseas Pakistanis and foreign investors and delivered major policy addresses to European Unionââ¬â¢s Committee on Foreign Affairs of the European Parliament and NATO Council and met with the European Union president, and EU high representatives on foreign and security policy, and commissioners on trade and external relations.
http://www.dailytimes.com.pk/default.asp?page=2007\02\01\story_1-2-2007_pg5_14