PTBP Web Desk
Prime Minister Shehbaz Sharif has reaffirmed Pakistan’s commitment to strengthening its trade and investment relations with the United States.
Speaking to the US-Pakistan Business Council (USPBC) delegation during the 79th Session of the United Nations General Assembly (UNGA) in New York, the Prime Minister underscored the need to deepen ties and attract US foreign investments across Pakistan’s economy. He noted that the current Pakistani government prioritizes creating a conducive environment for foreign investors and emphasized their role in the country’s development.
The meeting between Prime Minister Shehbaz Sharif and the USPBC delegation took place against the backdrop of the 79th UNGA session. The delegation included the President of the US-Pakistan Business Council, Esperanza Jelalian, and senior corporate leaders representing leading US enterprises with existing or potential investment interests in Pakistan.
Prime Minister Sharif stated that attracting foreign direct investment (FDI) from the US across various sectors of Pakistan’s economy remains a top priority for the government. To achieve this, Pakistan is working diligently to enhance the ease of doing business, a key factor in drawing international investors. The government, he said, is eager to listen to suggestions and insights from the corporate community to identify areas where further improvements can be made.
A key highlight of the Prime Minister’s address was his introduction of the Special Investment Facilitation Council (SIFC) to the attendees. He emphasized that the SIFC is a strategic initiative aimed at bolstering investor confidence by expediting project implementation through customized solutions and streamlined processes. The SIFC operates as a high-level, one-window agency empowered to facilitate foreign investors, making it easier for them to plan and implement their ventures in Pakistan.
The council focuses on four key sectors of the economy: agriculture, information technology (IT), energy, and mining. These areas represent some of the most promising opportunities for foreign investors, including US companies. Prime Minister Sharif highlighted that the SIFC’s mission is to provide demand-driven facilitation, which ensures that foreign investors have access to the tools and resources necessary to succeed in Pakistan’s market.
During his address, Prime Minister Sharif outlined specific sectors where US businesses could benefit from the Pakistani government’s favorable policies. He emphasized that sectors like agriculture, IT (including fintech), pharmaceuticals, oil and gas, and mining are ripe for investment. Pakistan’s growing tech industry, particularly in financial technology (fintech), presents a wealth of opportunities for US companies looking to enter a burgeoning market. Moreover, the country’s rich natural resources in mining and its large agricultural sector offer significant potential for profitable ventures.
Prime Minister Sharif further emphasized that the government’s policies are geared towards creating mutually beneficial partnerships. He assured the US business leaders that their investments would contribute not only to their own growth but also to Pakistan’s economic development.
President of the US-Pakistan Business Council, Esperanza Jelalian, expressed optimism about the growing trade and investment relationship between the two countries. She stated that Pakistan is increasingly becoming a favored destination for US investments due to its promising economic potential and investor-friendly policies.
Jelalian also shared plans for an upcoming delegation visit to Pakistan, organized by the Council, to explore additional investment opportunities. The visit aims to further strengthen the trade ties between the two nations and encourage more US companies to consider Pakistan as a viable investment destination.
Following the Prime Minister’s remarks, there was an interactive discussion with representatives of various US enterprises. The corporate leaders raised several queries, which were addressed by Prime Minister Sharif in detail. He reassured the participants of the government’s commitment to fostering a business-friendly environment, removing bureaucratic hurdles, and ensuring transparent governance to facilitate foreign investment.
Prime Minister Sharif reiterated that the Pakistani government is keen on improving the ease of doing business in the country. He emphasized that facilitating investments, especially from the US, requires consistent efforts to create a stable and predictable business environment. In this regard, the government is focused on reducing red tape, providing clear regulatory guidelines, and offering incentives to foreign investors.
The Prime Minister’s vision is to make Pakistan a hub for international trade and investment, leveraging the country’s strategic location, skilled workforce, and natural resources. With the SIFC as a key enabler, the government aims to provide tailored solutions to foreign investors, ensuring their projects are implemented smoothly and efficiently.
