ISLAMABAD: Pakistan’s Ambassador to the United States (US) Masood Khan has urged the business community to scale-up their investments in Pakistan and reap huge dividends of a growing economy with the investment friendly regime in the country.
He made these remarks during his virtual meeting with the leadership of Pakistan American Association of Greater Houston, the Pakistan American Association of Texas and Pakistan American Community of Atlanta in Washington, according to a press release received here on Tuesday from Washington DC.
The Ambassador said we have established Special Investment Facilitation Council to fast track approvals, eliminate red-tapism and provide all possible facilitation to potential investors.
He said we have prioritized IT, agriculture, energy and extractive industry as preferred areas for investments but that does not limit foreign investors to explore other sectors of economy and enjoy same privileges and incentive package which is available in our priority areas.
Highlighting the comparative advantage available to US investors, Masood Khan pointed out presence of around one million expatriates in the US who were the real bridge-builders between the two countries; the existing profitable business ventures of around 80 US companies in Pakistan—mostly Fortune 500 companies; the existing investment portfolios of Pak-US citizens and the excess capacity which was available to be invested back in Pakistan for undertaking profitable business ventures.
The Ambassador emphasized that Special Investment Facilitation Council (SIFC) was effectively addressing issues which were faced by the investors in past. He also urged the participants to create awareness about SIFC among Pak-US business community enabling them to take advantage of the facility.
Masood Khan said Pakistani American investors have proven success stories in various areas including hospitality, healthcare, diagnostics, and pharmaceuticals.
He said the Embassy of Pakistan and the four Consulates were creating synergies and connecting Pak-US business community for greater economic activity.
The Ambassador added that we were trying to connect all chambers of commerce under one umbrella to augment their efforts for the promotion of trade and investment in the country.
Masood Khan underscored the importance of an up-to-date database of Pak-US business community to be shared with SIFC for better outreach and facilitation.
Discussing sister-state arrangements with various US states and metropolises, the Ambassador observed that better university linkages would also be instrumental in promoting bilateral cooperation in agriculture sector.
Meanwhile, the participants briefed the Ambassador about their respective organizations and presented various suggestions to streamline and strengthen business activities and investment.
