Karachi ranked 7th in terms of FDI Strategy: KCCI

Chairman Businessmen Group and Former President Karachi Chamber Siraj Kassam Teli and President KCCI Muffasar Atta Malik have said that due to painstaking efforts and strong determination by KCCI, Karachi city has been ranked on 7th position in terms of FDI Strategy in the list of Top 10 Asia-Pacific cities of the future 2017-18 which was released recently by fDi Intelligence, the largest FDI Centre of excellence globally.

In a statement issued, Siraj Teli and Muffasar Malik informed that Karachi city has left behind many prominent cities around the world including Yokohama (Japan), Newcastle (Australia) and Osaka (Japan) who are ranked 8th, 9th and 10th respectively in the Top 10 FDI Strategy Asia-Pacific cities of the future 2017-18. Karachi has also been ranked 4th in terms of cost effectiveness in the list of Top 5 Asia-Pacific cities of the future 2017-18 by fDi Intelligence.

Chairman BMG and President KCCI, while appreciating KCCI’s R&D Department for providing credible input to fDi Intelligence which has helped in diluting many misconceptions about Karachi, said that it was undoubtedly a notable achievement for Karachi Chamber as the Chamber has been struggling hard since past many years to promote the positive image of Karachi and highlight it as the right destination for foreign investment.

They said that the Karachi Chamber initially participated fDi Intelligence survey last year by providing valuable inputs about Karachi. “Consequently, our city managed to secure 14th position in the top 15 Asia-Pacific Cities of the Future 2015/16 - FDI Strategy, which has greatly improved this year as Karachi succeeded in securing 7th position in 2017-18 survey”, they added.

They further mentioned that Karachi Chamber has been providing detailed feedback with a focus on highlighting the strengths of Karachi which became the basis of the selection of the city. Furthermore, Karachi was also bestowed with Specialism Award: Cottage Industry in fDi Strategy Awards 2016 which was presented to Karachi Chamber, they added.

They were fairly optimistic that Karachi will be able to secure even higher ranks in future as the city has gained further business momentum.