Islamabad, March 11, 2013 (PPI-OT): Addressing the Conference on Financing and Securing of Overseas Projects organized by the Building Control Authority of Singapore on 11 March 2013, Pakistan’s High Commissioner to Singapore, Syed Hasan Javed invited Singaporean investors to invest in Pakistan.
He stated that Pakistan needs an investment of US$ 150 billion until 2020 in Real estate and Construction sector, Energy, Logistics and Infrastructure sector, as well as Hotel and Tourism facilities.
The High Commissioner said that tremendous opportunities exist for foreign investors in upcoming high rise and skyscrapers projects, Infrastructure, IT Parks, Dazzle Jewellery Park, Mass-transit projects, Hotel industry, tourism facilities, Hydropower projects, Solar and Wind Energy projects, Cold Storages, Clean Water reservoirs and other sectors says a press release received today from Singapore.
Mr. Javed stated that Pakistan will be able to mobilize 1/3rd of the needed investment, through its own resources. An equal amount is being offered for investment by the companies from the People’s Republic of China, Turkey, Gulf States, Korea and Japan while for the remaining 3rd of requirements, Pakistan will be seeking assistance from the World Bank, Asian Development Bank, Islamic Development Bank, Sovereign Wealth Funds, Bilateral Donors and Commercial Institutions. Singaporean investors are welcome to harness the potential projects, with the most promising rate of return.
Hasan Javed stated that Pakistan has been identified as among the Next-11 Rising Emerging Economies. It is however the most promising emerging market with the annual rate of return of 40% in US dollar terms, the highest in the world. Pakistan allows for 100% repatriation of equity, dividend and profit and foreign investment is fully protected under the Constitution.
Pakistan’s advantages are enormous in terms of Minerals and Agriculture resource endowments, demographic profile, location advantages, Legal and civil structures, English speaking youthful population, Energy rich neighbourhood, Maritime wealth, Tourist landscape, Multicultural heritage, Soft power and social capital. Pakistan has already attracted investment from 100 new Multinational companies over the past five years, while the number keeps growing given the potential of the economy.
The Singaporean investors would be welcome to invest in areas of their choice either in Special Economic Zones (SEZs), Standalone projects, Joint ventures or Multilateral undertakings. The success of Pakistan’s economy in maintaining a sustained economic growth rate, despite challenges, speaks volumes of Pakistan’s resilience and potential. Pakistan has never had recession and is instead a ‘Safe haven’ for Investors seeking long-term profit sustainability, Mr. Javed added.
The Conference was attended by important Multinational Building and Construction companies’ representatives of the Asian region.
For more information, contact:
Haji Ahmed Malik
Principal Information Officer
Press Information Department (PID)
Tel: +9251 925 2323 and +9251 925 2324
Fax: +9251 925 2325 and +9251 925 2326