Pakistan received over $18bn FDI since 2006

[Neo]

Pakistan received over $18bn FDI since 2006

KARACHI: Chairman of Board of Investment (BoI) Saleem Mandviwala has said despite global economic slump, Pakistan has received $18 billion Foreign Direct Investment (FDI) since 2006. Speaking at the American Business Council (ABC) Economic Summit 2011 held Saturday at Karachi, Mandviwala said this signals investor confidence in this region and points to a trajectory of future investments as the global crisis abates. Two South Korean giants, Lotte and POSCO, with a combined turnover of $100 billion have entered Pakistan market after two years of efforts from BoI. POSCO entered into joint venture with Tuwarqui steel and invested $200 million to expand capacity of Tuwarqui steel. Japan’s Yamaha plans to invest $150 million in Pakistan. Chinese Foton Group is working on a project to bring 2000 CNG buses in various phases in Sindh province. “BoI is in talks with many companies from China, Korea, Turkey, Germany, other countries to invest in Pakistan,” he added. He added today 100% of textile and telecommunications sector, over 77% of commercial banking sector, and significant part of cement, sugar, automobile, fertilizer sector are in private sector. “Over 50% of industrial sector was successfully privatised,” he said. This year Pakistan improved five ranks on Global Competitiveness Index securing rank of 118 out of 142 economies. Although this rank is not laudable, “still we feel we are in right direction and must work hard to improve our standards,” he stated. In 2007, Goldman Sachs included Pakistan in ‘Next 11’ emerging economies of the world that after BRIC economies (Brazil Russia India & China) would be big part of global GDP by 2050. Mandviwala said BoI provides investor facilitation and reduces time to market for those who want to set up operations. It also introduced for foreign investor a “Visa Online” system that speeds up processing. It assists in automating investor facilitation services by cutting down the number of days for documentation. BoI is introducing online applications for permission for branch and liaison offices. To date BoI has facilitated opening of about 600 branch, liaison offices, making it extremely easy to be granted permission to open office through simple application form. BoI introduced SEZ Act, which put Pakistan on international footing when it comes to investment promotion. Swiss-owned Nestlé is satisfied investor in Pakistan for over 22 years having its largest milk intake plant in world in the country. Pakistan is highest producer of Toyota Corollas in Asia. At Corolla launch in March 2002, the company was producing 57 vehicles daily and today produces 200 vehicles per day. ENGRO has grown phenomenally. Pakistan has one of biggest fertilizer industries in the world with about 8 million tons of installed capacity including world’s biggest urea plant. Pakistan is 3rdlargest milk producer according to IFCN and well positioned to becoming major supplier of milk to the world. Unilever recorded 88% of average returns in Pakistan.He said Pakistani banks are amongst most profitable in the region. ppi

Daily Times - Leading News Resource of Pakistan

[Jihad]

That's good, we need all the FDI we can get, once the situation turns back to "normal" and we can phase out this WoT, then we can expect much more investments, which are vital for our economy to maintain high growth like we used to have a few years ago.

What say Neo? What is the general perspective for companies willing to invest or do business in Pakistan?

[Neo]

Originally Posted by Jihad

That's good, we need all the FDI we can get, once the situation turns back to "normal" and we can phase out this WoT, then we can expect much more investments, which are vital for our economy to maintain high growth like we used to have a few years ago.

What say Neo? What is the general perspective for companies willing to invest or do business in Pakistan?

Potentional is there mate, even the diehard critics on Pakistan are deviced into pro and cons when it comes to future perspectives. Pakistan is the next tiger to awaken...part of N11 (Next 11).

We'll have to wate till the next elections, if Imran wins, we'll see bigger investements than in the Musharaf's era..

[zubairismail]

Originally Posted by Jihad

That's good, we need all the FDI we can get, once the situation turns back to "normal" and we can phase out this WoT, then we can expect much more investments, which are vital for our economy to maintain high growth like we used to have a few years ago.

What say Neo? What is the general perspective for companies willing to invest or do business in Pakistan?

Thats impossible that the saituation will btrurn to normal.I think tat the problems are rising day by day.not reducing.No one tries to solves the problems we are facing today.Sorry for bad english

[KayShah]

I thinks...If we want the substaincial increments in FDIs, we should use our Natural reserves like Thar coal reserves, thousands of people could get employement and loads of tax revenue could generate just open reserves to foreingner investor to mined and export.

[KayShah]

And i think other policies are not that bad!