Date: April 16, 2014
Web Address: http://www.brecorder.com/top-news/108-pakistan-top-news/167572-pakistan-has-immense-potential-for-investment.html
ISLAMABAD: Pakistan has immense potential in certain sectors like agribusiness, dairy, Fast Moving Consumers Goods (FMCGs) andInformation and communicationtechnology (ICT), Sadika Hameed a US expert has said here in an interview.
There is a need for promoting medium enterprises in private sector which requires only US $ 1 million to $ 15 million besides energy and venture capital.
Sadika Hameed, currently visiting Pakistan is renowned economists and fellow of the Center for Strategic and International Studies (CSIS) a leading US think tank based out of Washington DC.
“Better coordination between the US embassy and local companies can help target US development work toward specific undertakings that will promote local business growth“, she said.
Pakistan has also great potential for US investors to help bring in cheaper but quality education and health facilities in Pakistan.
She held three roundtables at Karachi, Lahore, Peshawar and the latest in Islamabad on Private sector
development in Pakistan at the invitation of MISHAL Pakistan a partner institute of the Center for International Media and Global Competitiveness and benchmarking network of World Economic Forum (WEF).
MISHAL is also assists the forum in creating soft-data on Pakistan, identifying Pakistan’s Competitiveness challenges and opportunities for public private, civil society and academia to collaborate for sustained economic growth.
She said that private sector in Pakistan are keen on exploring partnership with US companies and enhanced private sector to private sector business cooperation between US and Pakistan can be mutually beneficial besides helping Pakistan to move towards a stable and strong self sustaining economy.
She stressed the need to address international business and media perceptions about the general economic and social environment in Pakistan with special emphasis to highlight the potential consumers to the tune of 180 million and rapidly growing private sector. The strategic geographic location and availability of the most favourable demographic age distributions in the world.
“Investment in Pakistan presents a confluence of interest for both US businesses and the people of Pakistan. Pakistan’s economy has a number of structural factors that will translate investment into growth”, she remarked.
The first of these factors is the age distribution of Pakistan’s population that private sector led development approach can turn the youth bulge from a liability to an asset, paying out a “demographic dividend” as young workers accumulate wealth without a large retired population to support, she argued.
“With 56 percent of Pakistan’s population under 21, Pakistan is poised to see millions of youth enter their productive twenties and thirties. Expanding business can employ this population, reaping the rewards of inexpensive, productive, and skilled labour”, she remarked.