French investors asked to benefit from incentives

Prime Minister Syed Yousuf Raza Gilani on Wednesday told French investors not to be swayed by the negative perceptions about Pakistan and invest in the country that offers lucrative incentives in several sectors. He was addressing the MEDEF forum, that was attended by top corporate leaders and heads of major organisations of France on the second day of his visit to France.
The MEDEF is a leading network of business confederation of over 700,000 member firms of all sizes. Prime Minister Gilani, who was accompanied by Minister for Water and Power Syed Naveed Qamar and Minister of State for Foreign Affairs , with additional charge of Ministry of Economic Affairs Hina Rabbani Khar, while sharing his vision asked the investors not to be swayed by the "exaggerated" reports about Pakistan.
"I, therefore, invite you all to come to see Pakistan - the real Pakistan, where people pursue their aspirations for success and prosperity with a modern and progressive outlook." The prime minister assured the French investors that Pakistan was not in the category of states where investments were insecure and the investors shun these areas to avoid unbearable risks.
"I am here to assure you, Pakistan does not fall in the category of such states," Prime Minister Gilani said. He said unfortunately images, perceptions are built and then reinforced by "rather misleading narratives." "If you see Pakistan only through the prism of terrorism and the ongoing conflict in Afghanistan, then you will never see the real Pakistan. Pakistan is much more than this, and it is there to be seen and experienced," he said.
Gilani pointed that over 700 foreign companies, including more than 30 from France were present in Pakistan, besides companies from US, Germany, UK, China, Sweden, the Netherlands, Switzerland, Japan, South Korea, Denmark, UAE, Turkey, Saudi Arabia, Malaysia, Hungary, Czech Republic, Poland and several other countries who are doing lucrative business in Pakistan.
"I have yet to come across a foreign company that has suffered losses in Pakistan. Companies that have entered our market even recently are doing good business and expanding their operations," the prime minister added. He said Pakistan was the largest market west of India up to the Atlantic Ocean and was rich in human and natural resources. He pointed that Pakistan''s geo-strategic location provided unmatched business and export opportunities to foreign investors.
He said foreign companies were expanding their activities in energy, petrochemical and chemical industries, infrastructure development, housing, agriculture and agro-based industries, education, health, banking, information and communication technologies. Gilani said Pakistan would like others to explore in hydro, thermal and renewable energies, power transmission networks, oil and gas exploration and pipelines and roads and motorways projects. He mentioned the Turkmenistan-Afghanistan-Pakistan-India and the Iran-Pakistan-India gas pipeline projects, besides the CASA 1000 that were in the pipeline in the energy sectors.
The prime minister said Pakistan offers most attractive incentives to foreign investors including 100 percent equity and full repatriation of profits and dividends. Pakistan had bilateral investment protection with 48 countries and avoidance of double taxation with 52 countries. He termed poverty as the root cause of violent extremism. "We face common threats, which can only be addressed through co-operative efforts. No country can single handed address these challenges and threats on its own". He said, "the people of Pakistan count on your support. The best way to help is to invest in Pakistan and trade with Pakistan."
He said Pakistan can learn a great deal from France and the two countries have grown closer to each other in the past three years. Gilani said involvement of corporate sector was crucial in building a stronger partnership and invited the investors to avail the opportunities that Pakistan offers.
Gilani said his prime objective to visit France was to further strengthen economic and commercial relations between the two countries and noted that the establishment of the Pakistan-France Joint Business Council was a "step in the right direction". He hoped that the Council would bring the two corporate sectors closer and create win-win scenarios, besides serving as a vehicle to promote mutual confidence, understanding and friendship between the two peoples.