Lahore Chamber of Commerce and Industry (LCCI) Monday stressed the need for holding events like investment conference on reciprocal basis to pave way for much-needed foreign investment in the country.
LCCI President Sheikh Muhammad Arshad, Senior Vice President Almas Hyder and Vice President Nasir Saeed said here that such initiatives were need of the hour as these would pave way for much-needed foreign investment in the country.
They said that by encouraging Foreign Direct Investment (FDI), Pakistan could gain technological advancement, knowledge and expertise from the global arena, therefore, every possible step should be taken to make this piece of land attractive for the foreign investors.
“Measures to encourage investment are especially important in the country as this is an area where we have long been at a disadvantage despite having all resources,” the LCCI office-bearers said.
They said that those obstacles should be removed through a positive approach and practical steps which were coming in the way of the FDI in Pakistan and top of the list was the cost of doing business.
The office-bearers said that severe energy shortfall, poor law and order situation and institutional fragility were the major factors keeping the foreign investors away.
They said that a number of sectors in Pakistan including infrastructure development, coal, energy, agriculture, livestock, textiles and pharmaceutical offered lucrative investment opportunities to foreign investors but unfortunately due to absence of a proper marketing strategy these opportunities were unattended even today.
