The solution to Pakistan’s economic challenges lies in the entrepreneurial talent of its own citizens and the dynamic entrepreneurs represent a new bright future for Pakistan. Pakistan has immense potential and offers best returns on investment hence, Pakistan would soon be a destination of investors from around the world. These views were expressed by speakers who addressed two-day AllWorld Pakistan 100 Summit in Lahore.
US Chargé d’ Affaires Ambassador Richard Hoagland, US Consul General in Lahore Nina Maria Fite, Chairman SECP, Muhammad Ali, Mian Mansha, Chairman Nishat Group and MCB Bank, Hussain Dawood, Chairman Dawood Hercules Corporation and Asad Umar, Chairman Pakistan Business Council and CEO Engro Corporation attended the two-day event.
Talking to entrepreneurs in Pakistan, Richard Hoagland expressed his appreciation for fastest growing entrepreneurial companies who achieved exponential growth in last few years. He advised the Pakistani business community to lobby with its government to have strong legislation for investor- protection to ensure better environment for doing business.
He said Central Asian states offer immense opportunities, which Pakistani businessmen and investors should explore and exploit. Chairman SECP Muhammad Ali said SECP is working on detailed guidelines for the function of corporate social responsibility in the country in order to help the corporate sector helping the society back in a better manner. He said success of Pakistani entrepreneurs is a testimony of the great potential this country possesses and how talented its human resources are. He appreciated the idea of having Pakistan 100 summit that seeks to highlight the success and achievements of resilient Pakistani entrepreneurs.
Hussain Dawood, Chairman Dawood Hercules Corporation emphasised the need of having solid values for the successful business. He said that a business based on solid ethical values is bound to grow faster and is beneficial for the society at large.
Mian Mansha, Chairman Mansha Group, said Pakistani businesses need to venture out of Pakistan and invest in potential markets like Africa too. He said in the next two decades the world would be at our doorstep to eagerly invest in Pakistan.
Samad Dawood, CEO of Cyan Limited, said Pakistan100 is a testament to the zeal and passion of the Pakistani private sector. Their accomplishment is even more impressive given the challenges that they have had to endure in the recent years.
AllWorld Network also announced the winners of the Pakistan Fast Growth 100 (Pakistan100), a ranking of the fastest growing non-listed companies in Pakistan.
Leading the Pakistan100 is number-1 company e2e Supply Chain Management, which grew 1,918 percent between 2008 and 2010, with 2010 revenues above $50 million and 297 employees. Launched in 2005, e2e has risen to become one of the most successful end-to-end logistics companies covering Pakistan and Afghanistan. Taking the second spot for Pakistan was Exceed Private Limited, with a growth rate of 1,320 per cent and 90 employees. Founded by the youngest entrepreneur on the Pakistan100, Exceed rose to prominence for its historic restoration of Saidpur Model Village, redeveloped as an 18th Century city-museum with 5,000 residents. Commenting on the success of Pakistan100 at the Awards Ceremony, AllWorld co-founders Deirdre Coyle and Anne Habiby urged Pakistan100 to go further. “When no one expected much, the Pakistan100 broke records for growth, transparency and competitiveness.
In the midst of challenging political and economic circumstances, the Pakistan100 broke many AllWorld records in relation to 15 other country rankings in the region, coming in only second to Turkey in terms of entrepreneurial growth and transparency. Many of the companies have been founded in the last ten years, and have already grown to be industry leaders. An average of only 42 years old, most Pakistan 100 entrepreneurs plan to establish another company in the next two years.