Pakistan’s export to the U.S. have shown a steady increase: Masood Khan
ISLAMABAD June 24 (SABAH): Pakistan’s Ambassador to the United States Sardar Muhammad Masood Khan has said that the emerging market of 220 million people with its unique geo-economic location serves as an ideal destination for the US investors and business community not only to undertake profitable business ventures within Pakistan but also to relocate their value chains to special economic zones of the country for exports to Gulf region, West Asia, Europe and Africa.
This Sardar Masood Khan said during his meeting with a delegation of Institutional Investment, a top-notch US investment company that includes banks, credit unions, government-linked companies, pension funds, charities, hedge funds, REITs, investment advisors, endowments, and mutual funds as its clients.
“We are committed to offer international investors all possible support and a congenial environment to explore the untapped potential of a huge market and rich human capital. Our focus on promoting export-oriented industries in Special Economic Zone has created opportunities for win-win solutions for our two countries,” he said while talking to leading US investors.
Ambassador Masood Khan underscored the need for sustaining the existing momentum to build robust economic partnerships. “The success stories of US firms operating in Pakistan like Abbott, Coke, PepsiCo, P&G and Cargill etc., provide a solid basis to broaden our ties,” continued the Ambassador.
He further said that Pakistan’s export to the U.S. have shown a steady increase. Given availability of a large number of IT professionals and skilled manpower, the US firms could use Pakistan’s HR for businesses process offshoring in the field of IT, software development, accounting and healthcare management system etc. “The US corporate sector could reap tremendous dividends by manufacturing their products in Pakistan and exporting them to its neighborhood,” said the ambassador.
Ambassador Masood Khan also highlighted various steps taken by the government to improve ease of doing business, making regulatory regime business friendly and some landmark policy decisions to offer maximum returns and financial incentives to the export-oriented foreign companies. “Initiatives like simplification of tax regimes, incentives for new businesses, establishment of SEZs and STZs, liberalization of visa regime etc., illustrate our keenness to become an attractive destination for investment,” he said.
He also projected recent gains of economy especially in tech sector that has witnessed a remarkable growth in past few months. The tech sector of Pakistan has earned over $700 million in past 18 months and is projected to further grow in the coming months. Leading US investors present during the meeting showed keen interest in exploring business opportunities in Pakistan and asked questions related to setting up business in Pakistan in various areas including infrastructure, IT, Fintech, agriculture, retail market, telemedicine, robotics and services.
The representation included Arlington County Employees’ Retirement System, Mission Square Retirement, Fairfax County Police Officers’ Retirement System, Bloomberg Philanthropies, Pennsylvania State University, Matthew Asia, T. Rowe Price, Metlife Investment Management and others.