Pakistan a secure destination for foreign investors: PM

DAVOS: Prime Minister Sharif on Wednesday during his meetings with several business leaders said that Pakistan was an attractive destination for foreign investors that offered security and attractive returns.

The prime minister expressed these views in a meeting with Group Chief Executive Officer of Standard Chartered Bank Jose Vinals on the sidelines of the 47th World Economic Forum.

He said that Pakistan had made a remarkable recovery and all its economic indicators were positive.

Mr. Vinals said Pakistan was an important partner of Standard Chartered Bank. He said that the bank was working with Chinese banks on the China Pakistan Economic Corridor project, and on the improvement of the small and medium enterprises.

Vinals said the profile of Pakistan had gone up significantly and added the economic matrix was moving in the right direction. He appreciated that the confidence of investors has had increased with the successful completion of the IMF program.

He said Standard Chartered Bank was working in Pakistan for past several decades and was improving its banking products and moving towards digitisation. He said the bank has also improved upon its consumer banking sector.

The Prime Minister held a series of back to back meetings with the heads of various other corporations and urged them to expand their operations in the country.

Earlier he met with the Chief Executive Officer of Procter and Gamble David Taylor who appreciated the conducive business environment in Pakistan.

PM Sharif told Mr. Taylor said the Pakistan today was totally different from the one in past and was an attractive place for business from around the world.

David Taylor said he was very optimist about the country’s economy and appreciated the prime minister’s role in the improvement of the business environment in the country.

He said that his company was providing best quality products for its local consumers and was planning to expand operations in the country.

In a separate meeting with Group CEO of VimpelCom Jean Charlie, the prime minister said the government was pursuing a comprehensive reforms agenda, and also delivering on the major challenges of terrorism, economy and power shortages.

Jean Charlie said he was seeking public private partnership for working with the government on education and skills development programs.

He lauded the investment environment in the country, and said his company was planning to launch new products in Pakistan as the country has come to the forefront as the largest emerging market.