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 Press Release March 28, 2017

ISLAMABAD: Recognizing the importance of China-Pakistan Economic Corridor (CPEC) for the economic & social development of Pakistan and the region, the Embassy of Switzerland in Pakistan and Swiss Business Council (SBC) Pakistan organized a session on 28 March 2017 to discuss the subject of ‘Opportunities for the European Investors in China-Pakistan Economic Corridor (CPEC)’. An intellectual mix of diplomats in Pakistan, business leaders from the corporate and public sector, leading specialists in the field & leaders of business chambers participated in the event.

At the outset, CPEC can be perceived to be ‘China - Pakistan centric’ but the vision and the overall concept rolled out by both countries exhibits that the goal is globalization and opening-up Central and South East Asia with better connectivity & access to one of the world’s largest growing markets.The Silk Road Economic Belt and the 21st Century Maritime Silk Road focus on connectivity and cooperation extending from China and the rest of Eurasia. The coverage area of this initiative is Asia and Europe encompassing 60 countries inclusive of Oceania and East Africa. The anticipated cumulative investment is a staggering US$ 4-8 Trillion. Under this vision of globalization, CPEC is the back bone of connectivity and economic development where Pakistan is well positioned and part of this ambitious plan of economic and social globalization. The fast changing political, social & economic dynamics in the region has encouraged countries from Central Asian states, Eurasia and Europe to express their interest in the economic development in the region.

Mr Farhat Ali, President of Swiss Business Council in his statement underlined that “European companies put together are the largest Foreign Direct Investors in Pakistan. They have historic, social and business ties with Pakistan and Asia where their impressive foot-prints in culture, social sector and business segments are visible and above all the great people to people contacts over decades. For mutual benefits, there is a need for them to capitalize on their strong credentials in these times of changing economic, social & political dynamics in Central and South Asian Region where Pakistan is geographically and strategically well positioned.”

He stated “It is a positive development that foreign investors are once again looking at Pakistan with interest. Recognizing the changing trend, Swiss Business Council, with the support of its partner, Switzerland Global Enterprise (SGE), which is a Trade Development Authority of Switzerland, took up the initiative and has  successfully linked many Swiss and Pakistani Small & Medium Enterprises through investments in joint ventures, technology transfer and business representation. Encouraged with this positive development in 2016, SBC & SGE have marked 2017 as the year to maximize Swiss companies’ foot prints in Pakistan and vice versa. In addition to other initiatives, SBC together with SGE & other Business Chambers of Switzerland is organizing in early July 2017 a number of events in Switzerland under the title "Focus Pakistan” to inspire Swiss Companies’ interest in Pakistan.

The business potential offered by CPEC is of immense interest, notably the business potential offered in infrastructure and energy projects and in the 29 Special Economic Zones being set up all over Pakistan to spur industrial and commercial activities offering potential for investments, supplies, contracting and services in power sector, oil and gas, mines and minerals, large industry, small and medium industry, healthcare sector, education, banking, hospitality industry, engineering, consultancy and construction services and others.

The Swiss Ambassador, Marc P. George in his statement said "Pakistan has reached consensus on social stability, economic development and livelihood improvement. The economic reforms have started to take effect and its advantages are filtering down to the middle class and the young and talented workforce aspiring for a better life for them. The youth of this country is an asset and needs to be capitalized by creating more jobs after providing them an education of high quality and adequate trainings. The macro economy has turned for better in Pakistan in recent years. The inflation level has been low, foreign exchange reserves have been growing and the expectation of the exchange rate has been stable. Generally speaking, the security situation in the country has improved, the economic growth has been picking up, boosting the market demand in the consumer industry, service industry, transportation and energy and other infrastructure sector. While growing, environment protection is a major challenge for this country. The development projects will have to take into consideration the environmental constraints for a better future of this country.  Over-all the macroeconomic environment of Pakistan has significantly improved and offers foreign investors a variety of investments and business opportunities to contribute to the development of Pakistan and the region’’.

China-Pakistan Economic Corridor

KP EconDev & Early Opp Presentation

 

(L-R) K.M. Iqbal, Treasurer - Ahmed N. Chaudhary, Company Secretart - Farhat Ali, President – Ambassador Marc P. George, Patron-in-Chief – Philippe Crevoisier, Counsil General & Patron - Asif Ikram, Director - Shahab Rizvi, Vice President " />

 

 

Opportunities for the European Investors in the China Pakistan Economic Corridor

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