CPEC: Bahrain to become part of CPEC

CPEC: Bahrain to become part of CPEC

ISLAMABAD: (APP) The Board of Investment on Wednesday asked the Bahraini businessmen to take maximum advantage of the China Pakistan Economic Corridor (CPEC) by investing in its projects.

Talking to a 25-member Bahraini delegation led by Chairman Bahrain Chamber of Commerce and Industry (BCCI) here, Secretary, BOI Azher Ali Choudhry emphasized that Special Economic Zones (SEZ) along CPEC routes would have a natural advantage of back-word and forward linkages and owing to the experience Bahraini side, there was every possibility to maximize the advantage.

The strategic location of Pakistan might make it Asia's premier trade, energy and transport corridor, the secretary added.

He said it was a gateway to the energy rich Central Asian States, the financially liquid Gulf States and China adding this strategic advantage alone made Pakistan, a market full of opportunities.

He said that Pakistan was located in the region which provided the biggest consumers' market in the world.

So they can excess not only Pakistani consumer but also neighboring markets and Pakistan has a population of approximately 195 million people (6th largest in the world), 60 per cent of which is under the age of 30, which offers huge consumer market with talented labor force from unskilled to highly skilled professionals.

The delegation comprised not only Public sector but diversified sectors including power, renewable energy, agriculture, industrial zone development, real estate, trade, logistics etc.

The leader of the delegation appreciated efforts of BOI, facilitating their visit to Pakistan.

Additional Secretary, BOI Shah Jehan mentioned that Pakistan was one of the luckiest countries in the world for having four seasons, abundant land with rich natural resources, extensive irrigation network, favorable climate, year round crop production, skilled work force and vibrant economic outlook and the Government is making best efforts to put the economy on a path of sustained long-term economic growth.

In this context, focus remained on public-private partnership in the development process, improved productivity in agriculture sector, removal of energy shortage, enhanced industrial competitiveness, better service delivery system and upgraded human capital formation.

Pakistan's economy has maintained higher and broad based economic growth despite a number of internal and external challenges.

He said that Pakistan Investment Policy had been designed to provide a comprehensive framework for creating conducive business environment for the attraction of FDI.

"Pakistan's policy trends have been consistent, with liberalization, de-regulation, privatization, and facilitation being its foremost cornerstone and the policy is very liberal and investor's friendly which provides no restriction on remitting capital, profits & dividends", he added.

Shah Jahan also mentioned that Pakistan is open for business.

"There are over one thousand Multinational companies profitably operating in Pakistan. They enjoy a level playing field with the domestic investors and do not face any barriers to entry or exit", he added.