German Economic Delegation Seeks Investment Opportunities in Pakistan

A 20-member business delegation of the German Emirati Chamber of Commerce & Industry (AHK) held a meeting with foreign investors and members of the Overseas Investors Chamber of Commerce and Industry in Karachi today. It is visiting Pakistan for a firsthand assessment of the country’s business and investment opportunities, and was accompanied by the German Consul General in Karachi, Holger Ziegeler, and the First Secretary for Economic Affairs at the German Embassy in Islamabad. The CEO and Secretary General of the Overseas Investors Chamber of Commerce and Industry (OICCI), M. Abdul Aleem, gave a detailed presentation that highlighted Pakistan’s liberal policies for foreign direct investment (FDI) that offer tremendous opportunities for new investments. While commenting on the country’s investment opportunities, he stated that the “OICCI members have benefitted by taking a longer-term view which is illustrated by the fact OICCI members have re-invested over US$ 18 billion in the last 9 years which is more than the total FDI inflow into the country during this period”. The OICCI informed the delegation that the results of the recent Business Confidence Index Survey that was conducted between May and July 2021 shows a dramatic 59 percent upswing in business confidence across Pakistan since the last BCI survey during the same period in 2020. “The OICCI members randomly included in the survey are more upbeat as their confidence level has gone up by 108,” the CEO added. The CEO of the visiting German Emirati Joint Council for Industry and Commerce, Oliver Oehms, and other members of the delegation enquired about several matters, including potential sectors for investments, special concessions for major investments in Pakistan, incentives related to the Special Economic Zones, major development projects on tourism, the impact of increasing inflation on businesses in Pakistan, tax incentives for putting up export-based industries using imported raw materials, and the most reliable government agency to facilitate the potential foreign investors. All their queries were answered by the members of the OICCI during the meeting.