The unique geoeconomic position of Pakistan makes it a prime location for US investors
According to Masood Khan, Pakistan’s ambassador to the United States, Pak’s favorable geoeconomic position and remarkable demographic cohorts make it a desirable destination for U.S. investors and firms.
In an exclusive meeting with the PACC board of directors in Los Angeles, he voiced his gratitude for the organization’s efforts to strengthen commercial links between Pakistan and the United States.
Although trade between the two countries increased from $8.5 to $12 billion last year, he noted that even more growth was possible through increased economic cooperation in specific areas like technology, IT tourism, extractive industry, oil and gas exploration, manufacturing, healthcare, and agriculture.
Businessmen from the healthcare industry joined those from the textile, banking, logistics, solar, and Fintech industries at the event.
In addition, the Ambassador emphasized the significance of expanding commercial connections with California, whose economy is worth $3.5 trillion. Trade between the two countries is significant, he said, with Pakistan’s exports to California totaling $457 million last year and imports costing $138 million, for a surplus of $319 million.
The ambassador said that Pakistan is often overlooked because of its small size, despite the country’s large consumer market. He claimed that eighty American businesses had been operating in Pak for decades, all the while raking in millions in revenue. He urged the group’s members to have faith in Pak’s economy and expand their businesses there, saying that doing so would attract the attention of other investors.
The Ambassador acknowledged their worries about Pak’s regulatory systems but assured them that the country’s government was working to make doing business easier. Some of these measures were the simplification of taxation, the protection of intellectual property, the relaxation of restrictions on obtaining visas for business travel, and the introduction of cyber laws.
He said that this was the reason why 203 million USD in earnings were brought home from 257 million USD in U.S. foreign direct investment the previous year. French, Chinese, German, Singaporean, South Korean, and Japanese firms are among those investing in Pakistan’s information technology industry. He extended an invitation to the Pakistani American business community to participate in Pakistan’s current economic upheaval.
Fawad Ismail, president of the Pakistan American Chamber of Commerce, gave a presentation to the Ambassador regarding the Chamber’s efforts to strengthen trade ties between Pakistan and the United States through events including investment seminars and webinars on the Roshan Digital Account (RDA). In addition, he highlighted the charitable efforts made during the Covid-19 pandemic, including the donation of over a million dollars worth of personal protective equipment (PPE), the raising of funds for disaster relief in Pakistan and the United States, and the aid provided to local communities and businesses.
