World sees Imran Khan as credible PM, attracted to invest in Pakistan: Ali Zaidi

KARACHI: Federal Minister for Maritime Affairs Syed Ali Haider Zaidi on Monday said Pakistan has become very attractive to the world for investment and trade after Pakistan Tehreek-i-Insaf government has come to power under the leadership of Prime Minister Imran Khan.

Singaporian companies have also shown confidence in PTI government in Pakistan led by Imran Khan and were eager to invest in various sectors seeing big potential here, the Minister said during the visit of Singapore high profile business delegation to Federation of Pakistan Chambers of Commerce and Industry who had interactive session with FPCCI representatives and also with senior officers from different banks and Federal Bureau of Revenue.

Twenty-two member delegation from Singapore was led by Shamsher Zaman, Ambassador of Singapore in Jordon who is also the Vice Chairman of South Asia Business Group, and the Chairman of Middle East Business Group.

The prominent on FPCCI side, on this side, were President Engr. Daro Khan Achakzai, Senior Vice President Dr. Mirza Ikhtiar Baig, Vice Presidents Noor Ahmed and Muslim Muhammadi, former president and leader United Business Group in FPCCI, S.M.Muneer, Secretary General Dr. Iqbal Thaheem.

On this occasion a memorandum of understanding was also signed between FPCCI and Singapore Business Federation to increase economic cooperation through strengthening business relations.

FPCCI President Engr. Daro Khan Achakzai and Shamsher Zamman were the signatories.

Federal Minister for Maritime Affairs said Pakistan has big investment potential in various sectors especially infrastructure, housing, agriculture, natural resources development and tourism. However, he said, this needed to be dully projected in the world.

He said Pakistan was in safe hands of Imran Khan and the economy was going on the right track.

"Pakistan has now very credible Prime Minister," he said adding that this was also certified by the recently visiting Saudi Crown Prime who remarked "we were waiting for a credible government in Pakistan like PTI's under Imran Khan's leadership."

He said two global technology tycoons and many other international companies had shown interest to invest in Pakistan.

Korean and Chinese investors were attracted to Pakistan for cheap and energetic labour force. Pakistan has at least sixty percent population under the age of 30 years, which is the big asset for the country.

China Pakistan Economic Corridor would also contribute to make Pakistan as an economy of scale in the world, he said.

He spoke of Singapore's strong and progressive economy and high standard social indicators, especially 97.2 percent literacy rate which is very appreciable.

The best long-term planning and maximum investment in education was must for building a nation. And, he continued, that is why PTI government had focused on increasing literacy rate and ensuring quality education from primary to higher level.

He referred to PTI government's meritorious services in education in Khyber Pakhtoonkhwa during five years and now the public sector schools had become the choice for well-off people for the education of their children.

The leader of Singapore delegation Shamsher Zamman, who is the Chairman of Middle East Business Group and the Vice Chairman of South Asia Business Group said Pakistan and Singapore longstanding bilateral relations had been characterized by reciprocity and cooperation.

Pakistan has a robust economic relationship with Singapore and the total trade between the two countries in 2018 reached dollar 2.53 billion. Top traded products between the countries included mineral fuels, chemical products, electrical machineries and plastic articles.

"Certainly, there is tremendous potential for the growth of economic relations between the two countries," he remarked.

Being the world's sixth largest populated country, with a large talent pool, advantageous geographical position and maritime wealth, Pakistan furnishes a rich source of opportunities for Singapore.

Singapore companies had invested in Pakistan and were profitably operating , and more were interested to step in. Singapore could be a centre for financing, services and expertise for Pakistan.

Singapore companies were watching with much excitement and interest the present Pakistani government's commitment to economic reforms and increased stability in the country, he said.

Shamsher Zamman said it was heartening to note that Pakistan's Prime Minister Imran Khan talked about modeling Singapore's success stories in several public addresses, specifically in education being the economic imperative for progress and development.

He said that Singapore, with expertise and vast experience in urban planning, was in better position to support Pakistan government to build five million low-cost homes over next five years.

He said that Pakistani companies seeking to export their goods and provide their services to ASEAN, China and the rest of the Far East region could use Singapore as a base to market their products and services, tap into our globally connected infrastructure, and find business partners amongst thousands of multination companies headquartered there, as well as Singapore small and medium enterprises.

Pakistani companies would also be able to tap Singapore's extensive Free Trade Agreements with different countries including China, Japan, Korea, Australia, Jordan, Turkey and the United States.

"We also have 10 regional FTAs with trading blocs such as ASEAN, the Gulf Cooperation Council, and the Comprehensive and Progressive Agreement for Trans- Pacific Partnership.

With our high-level of expertise and familiarity with Chinese operations and Chinese partnerships with Singapore companies, Singapore could also play a role in Pakistan and China's strategic relationship.

Earlier, FPCCI President Engr. Daro Khan Achakzai and former president and leader of United Business Group in FPCCI, S.M.Muneer spoke of FPCCI role in promoting trade and industry in the country, and promoting economic cooperation between Pakistan and the world.

They appreciated the visit of high profile business delegation from Singapore and assured that FPCCI would also send its business delegation to Singapore soon.