In his address to businessmen on the sidelines of the 47th WEF, he said, “Offering attractive investment policies, Pakistan is a destination that no global player can miss. I invite you to take benefit from the economic revival of Pakistan and enjoy the first mover’s advantage.”
Stressing the need for collaboration and co-operation, he said, “Without peace and stability, development remains an elusive dream.”
He mentioned that Pakistan’s Vision 2025 served as a comprehensive strategy for achieving sustainable growth and mapped the country to join the top 25 economies in the world leading to upper middle income country status by 2025.
He said the economy was targeted to grow over 8% between 2018 and 2025 while maintaining single digit inflation.
The PM told the businessmen there was no minimum requirement for the amount of foreign equity, investment or upper limit on the share of foreign equity allowed except in the airline, banking, agriculture and media sectors and foreign companies were allowed to repatriate 100% profits.
The prime minister highlighted that Pakistan was the fourth largest milk producing country with third largest livestock population in the world.
The recent decision of Dutch leaders to invest $460mn in Pakistan’s food and dairy sector is a testament of our potential, he stressed.
He said the China-Pakistan Economic Corridor (CPEC) was a key regional initiative for connectivity and shared prosperity of nations.
Meeting with Norwegian Prime Minister Erna Solberg on the sidelines of WEF, Prime Minister Sharif said Pakistan greatly valued its relations with Norway.
He apprised the Norwegian premier of his government’s focus on trade and economic co-operation, rather than aid. The Norwegian premier appreciated Pakistan’s economic revival.
On the occasion, Sharif extended an invitation to the Norwegian premier to visit Pakistan.
Pakistan has devised a comprehensive plan to create an investment friendly environment and is liberalising its policies to welcome foreign entrepreneurs, PM Sharif said.
He was talking to heads of top ranking companies at a roundtable on the sidelines of WEF.
“We offer incentives to attract new capital inflows, including tax exemptions, tariff reductions, infrastructure, and investor facilitation services,” the prime minister said.
