Pakistan opens doors for foreign investment in diverse sectors: Masood

Pakistan’s Ambassador to the United States Masood Khan says Pakistan has opened new doors for foreign investment in the sectors of IT, energy, agriculture, mining and defense production.

Addressing a two-day conference on ‘Resilience and Reform in Pakistan’ in Washington D.C, he said a Special Investment Facilitation Council (SIFC) was established June this year to act as one window for foreign investors to facilitate speedy approval of projects, fast-track project development, and oversee implementation.

He said the purpose is to spur economic growth, integrate our economy to international capital markets and guarantee continuity of policies.

The Ambassador said that tech startups in Pakistan are seeing a dramatic rise. He said tech startup turnover in the last fiscal year was three billion dollars whereas e-commerce in Pakistan earned about 6 billion dollars. He noted this is just the beginning and Pakistan is not far behind in the tech revolution that has taken off in South East Asia, Middle East and North Africa.

Masood Khan termed US-Pakistan Green Alliance initiative as groundbreaking saying this will enable Pakistan to promote renewable energy and make agriculture sustainable and productive.

Source: Radio Pakistan