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Pakistani president promises ideal facilitation, atmosphere to investors

Xinhua, September 8, 2015 Adjust font size:

Pakistani President Mamnoon Hussain on Tuesday urged local and foreign investors to start projects in the country and promised that the government would facilitate the investors by further simplifying the rules and procedures.

Addressing a round-table conference on the theme "Pakistan -- Paradise for Investment" in capital Islamabad, the president said with the existing immense opportunities for investors, a liberal investment environment, stable economy, improved law and order situation and democracy, Pakistan had become a fast emerging destination for foreign and local investors.

The president said several facilities to foreign investors including tax exemption for 10 years, establishment of special economic zones, and positive trends in socioeconomic condition would add to the comfort of investors.

The conference was jointly organized by Pakistan's Board of Investment (BOI) and Pakistan Observer Daily and it was also attended by ambassadors, foreign diplomats, chiefs of the foreign investment companies and analysts.

In a written message on the occasion, Prime Minister Nawaz Sharif said "the main aim of our government is to attract investment from all potential avenues and I have directed to provide maximum facilitation to intending investors."

Chinese Ambassador to Pakistan Sun Weidong said overall security situation has been improved to a great extent in Pakistan, and the country has a great geo-strategic location a diversified workforce with a bright economic outlook.

"Pakistan has business-friendly policies, and one of the most favorable policies is the special economic zones, which is aimed to create industrial cluster with liberal incentives, infrastructure, investor facilitation services to enhance productivity and reduce cost of doing business," said Sun.

Representatives of the different investment groups presented their business plans in Pakistan and also forwarded their suggestions and proposals to the government.

Pakistan's Finance Minister Ishaq Dar promised the investors to take prompt actions on their doable proposals, saying "the China- Pakistan Economic Corridor (CPEC) and its related projects will bring a new era of prosperity in the region and it will create mega opportunities for investment."

The minister told the audience that Pakistan has been working speedily on multiple energy projects and the country would have electricity in surplus within next two years and industries will face no power shortage.

He said all sectors of economy are open to foreign investors, adding 100 percent equity and repatriation of profit is allowed. Endi