Pakistan Is A Great Country With Opportunities To Invest Stated By Overseas Investors Chamber of Commerce and Industry (OICCI)
Pakistan Is A Great Country With Opportunities To Invest Stated By Overseas Investors Chamber of Commerce and Industry (OICCI): Despite the ongoing political uncertainty in the country, Overseas Investors Chamber of Commerce and Industry (OICCI) representatives are confident about the fact that Pakistan is a great country with opportunities to invest.
OICCI President of the foreign investors body Bruno Olierhoek said in his first media meet-up on Tuesday. OICCI members are more positive about the country than average businessmen because they have a long-term perspective on the country,” he said. Foreign investors in Pakistan are hopeful about the investment scenario in the country as 75% of the survey respondents foresee growth to continue in their business. Pakistan has attracted foreign direct investment (FDI) worth $8.58 billion in different economic sectors during the last 5 years, with OICCI members having invested $7.72 billion out of that amount, he added.
OICCI urged the authorities to play their role in increasing the ease of doing business, specifically for the documented sectors of the economy.
OICCI Secretary General M Abdul Aleem said that due to the massive improvement in security and increased availability of electricity have helped increase foreign investors’ confidence in Pakistan.
The foreign investors’ body in its budget proposals to the federal and provincial (Punjab and Sindh) governments, submitted that the government must eliminate 3-4% super tax as per its promise made initially. It should also reduce the corporate tax rate to 25% from over 30% at present, align sales tax rate to 13% from 17% at present and remove conditions like tax on undistributed profits and tax on bonus shares etc.
OICCI perception and investment survey 2017 said its members 88% of its members find CPEC investments favorable which would leave a positive impact on the investment climate in Pakistan.