IFC gets essence of investment opportunities in Pakistan

LAHORE: International Finance Corporation-World Bank (IFC-WB) delegation headed by Mr. Peter Alex Cook, Consultants on SME World Bank (Washington) visited Federation of Chamber of Commerce and Industry Pakistan (FPCCI) Regional Office on Saturday to get essence of investment opportunities so that most important and right sector could be focused.

The FPCCI Regional Chairman Mian Rehman Aziz Chan highlighted various issues related to development of the SME sector e.g. importance of industry-academia linkages, SME Policy, money landing, SME support fund, and development of special economic zones for small and medium enterprises.

He stressed the need for development of agro-based SMEs, and said value addition units for Kinnow, mangoes and rice sector could bring huge foreign revenues for Pak economy. Joint ventures especially in manufacturing sector should be considered.

He also gave numerous suggestions and recommendations including tax reform, accountability of government institutions. He said it was encouraging to see IFC was focusing on SME and Cluster development which would definitely help in building prosperous economy.

He suggested government of Pakistan to establish one-window shop for foreign investor. Mr. Peter Alex Cook, Consultants World Bank said that Pakistan was an important country and World Bank also appreciated role of the FPCCI for facilitating Business Community, especially SME Sector of Pakistan.

He said World Bank was focusing to improve investment climate of Pakistan and for this they had strategy to get suggestions and proposals from government, all chambers of commerce and industry and trade associations of Pakistan.

He said Pakistan had made attractive investment policies, which provided a lot of investment opportunities that were prompting international entrepreneurs to come and invest in Pakistan.

On this occasion, different proposals and suggestion from business community of the Pakistan regarding investment opportunities were put forth.  The IFC-World Bank Group initiatives for improving investment climate in Pakistan were highly appreciated. APP