March 28, 2018 / BY AKD
JETRO Has Rated Pakistan As The Top Destination For Japanese Investors
Despite the falsely negative image, Pakistan has remained a highly suitable destination to make investments in different sectors of corporate. Of course, there are many famous local investors like Aqeel Kareem Dedhi
who have raised the economy of the country. But besides being beneficial for the local investors, the country has great investment potential internationally. Recently, Japan External Trade Organization (JETRO) conducted a survey of Japanese companies who operate in Asia, in which Pakistan was observed to be one of the most favorable destinations for Japanese investors.
The results were revealed in a meeting in Tokyo between Board of Investment (BoI) Chairman Naeem Y Zamindar and JETRO’s president Yasushi Akahoshi. The results of JETRO’S survey is similar to the survey conducted by Overseas Investment Chambers of Commerce and Industry (OICCI). In OICCI's survey, the results showed 75% of foreign investors acknowledge the fact that Pakistan is highly suitable as an investment platform and their businesses continue to grow at an appreciable pace.
According to the survey, Pakistan has the highest proportion of Japanese companies, 81.3 to be exact, which intend to maintain their business operations in the country, in fact, make them grow. Other 70% of the companies expect exponential growth in profits generated by investment and business in Pakistan. The JETRO survey also revealed that over 70% of Japanese companies in Pakistan increased the number of local employees they recruited over the previous year which is indeed a good sign for Pakistan’s economy. Especially many of the companies in Japan want an expansion plan in 2018 in order to boost the business operations and excel the process of hiring of the local labor force.Some of the richest people in Pakistan
consider it as a great opportunity for Pakistan to increase its business credibility.
Pakistan’s Position In Future
In the similar meeting, other prospects of economic growth of both the countries were discussed. BOI chairman informed Yamazaki that Pakistan is aiming for a nine percent economic growth rate by 2020 and there was a general consensus across the political spectrum in Pakistan on achieving sustained economic growth. He further brought focus to the matter of Price Waterhouse Coopers projection of Pakistan which intends to join the group of G-20 countries by 2030.
Both the parties decided to use High-Level Economic Policy Dialogue as the platform in near future for the mutual corporation in other regards as well.
Yamazaki further remarked pleasantly upon Pakistan’s suitable labor cost in the region. He also appreciated the stream of energetic youngsters willing to work hard which make Pakistan the best destination to invest.
The development of new projects also came in discussion in other meetings which were held between BOI’s chairman with the senior management of Mitsui Corporation and Mitsubishi Corporation.