February 03, 2024 (MLN): The newly established Special Investment Facilitation Council (SIFC) is taking practical steps to remove hurdles in the way of foreign investors undertaking profitable business ventures in Pakistan, Pakistan’s Ambassador to the United States stated during a meeting on Friday.
The Ambassador made these remarks during his virtual meeting with the leadership of Pakistan American Chamber of Commerce (PACC) led by its Chairman Mr. Waqar Ali Khan.
“We are facilitating investors and offering incentives to the investors in all areas of our economy especially in IT, renewable energy, agriculture and minerals,” he continued.
Appreciating the role of PACC in promoting trade activities and connecting business communities of the two countries, the Ambassador underscored the need for greater collaboration between various chambers and trade organizations working across the U.S. to promote Pak-US trade and investment ties.
He also encouraged PACC to arrange visits of the business delegations to Pakistan and highlight existing opportunities before the Pak-American business community who have the capital to invest in their motherland.
“By investing their resources back home, Pak-American investors would not only be reaping huge dividends but would also be contributing towards the socio-economic progress of their motherland,” observed the Ambassador.
Chairman PACC Waqar Ali Khan briefed the Ambassador about various activities of the chamber especially the successes achieved in promoting trade activities in health, food and textile sector.
Waqar Ali Khan said that PACC was working closely with Pakistani Consulate in Los Angeles to organize single country expo in Los Angeles in the near future.
He also suggested a sister-city partnership between Karachi and Los Angeles which he said would not only boost trade activities but facilitate transfer of technology.
Speaking on the occasion, Dr. Sana Khan informed the Ambassador that Pakistani radiologists and technicians were being trained to remotely operate and provide radiology services to Middle East, Europe and United States.
He also highlighted various other initiatives which were being taken in the field of education.
Consul General Asim Ali Khan, while briefing the meeting about the efforts to promote trade and business activities, informed that a detailed presentation had been made to the Los Angeles Chamber of Commerce on SIFC and how the Council was facilitating businesses with innovative and business-friendly approach.
The LA Chamber has over 1800 business entities attached to it. Counselor Quratulain Fatima apprised the meeting about efforts to promote trade linkages and organizing trade activities in collaboration with relevant trade bodies and organizations.
Highlighting the stable trends witnessed this year in Pak-US bilateral trade, the Ambassador observed that being the 4th largest economy of the United States, California had a huge capacity to absorb Pakistani goods and services.
This, he said, has generated a great opportunity that needed to be capitalized by the business community.
He also urged PACC to create greater awareness about SIFC among the Pak-American business community.
Copyright Mettis Link News
Posted on: 2024-02-03T18:21:19+05:00
