President Mamnoon Hussain has said that Pakistan is strategically located to become Asia’s premier trade, energy and transport corridor. He stated that Pakistan is the gateway to energy rich Central Asian States, the financially liquid Gulf States as well as China adding that this strategic advantage alone makes Pakistan a market of unlimited opportunities.
The President said this while talking to Chairman France-Pakistan Business Council of MEDEF International, Thierry Pflimlin, who accompanied by a delegation of businessmen/companies from diverse business backgrounds, called on him at the Aiwan-e-Sadr, Islamabad on Tuesday. French Ambassador and other senior officials were also present on the occasion.
President Mamnoon Hussain highlighted that Pakistan has adopted a very liberal and investor friendly investment policy which allows 100% repatriation of capital, profits & dividends as well as exemption of taxes on import of Plant, Machinery & Equipment. The President further stated that all sectors of economy are open for investment and level playing field is provided to local and foreign investors whereas visa on arrival facility is allowed for 69 countries. There are over 1000 multinational companies (MNCs) profitably operating in Pakistan which consider Pakistan as a most profitable country, added the President.
The President said that abundant investment opportunities are available for foreign investors in the development of Pakistan’s communication sector especially the Railways, international airports, highways and motorways under public private partnership. He stated that Foreign Direct Investment is fully protected under Federal law. The President urged foreign investors to take advantage from lucrative investment policy of Pakistan by investing in its various sectors to the mutual benefit of all. The President said that Pakistan’s population of approximately 195 million people offers a huge consumer market with a trained labor force.
The President stated that the agriculture sector is a vital component of Pakistan’s economy as it provides raw materials to the down the line industries and helps in poverty alleviation. He said that Pakistan has impressive dairy industry which can be exploited to its real potential as it is the 4th largest milk producing country in the world.
The President said that Pakistan and France enjoy excellent bilateral relations and recalled that Pakistan is the second largest export partner for France in South Asia. He expressed optimism that bilateral ties between the two friendly countries will reach new heights in future through cooperation in various fields.
Chairman France-Pakistan Business Council of MEDEF International, Thierry Pflimlin appreciated that owing to sound economic and fiscal policies of the Government, the country’s economy is reviving which is also being acknowledged by leading financial institutions of the world. He stated that Pakistan has the potential to emerge as a leading regional economy and said that his country is keen to further expand bilateral relations with Pakistan.
The President wished the visiting delegation a fruitful and productive stay in Pakistan.
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