By M.Saraswathi
NEW DELHI, Sept 23 (Bernama) — As a developing economy, Pakistan offers immense opportunity for Malaysian companies in an array of sectors, namely power generation, infrastructure development, housing and real estate, financial services and textile.
“Pakistan is rich in agricultural resources, therefore, our companies can also explore investment potential in value-added food manufacturing and agro-business industries,” said the Consul General of Malaysia in Karachi Abu Bakar Mamat.
He said the new Pakistan Prime Minister, Nawaz Sharif, was very keen to turn around the country’s economy, as such, the investment environment would emerge as more conducive.
“One of his primary tasks is to create a conducive environment for trade and investment. Pakistan has a liberal investment policy, which includes 100 per cent equity ownership and full repatriation of capital,” Abu Bakar told Bernama.
There are also networks of export processing zones that had been established with efficient infrastructure, said Abu Bakar.
Hence, events such as Showcase Malaysia, which would be held on Sept 26-29 concurrently with the 8th Pakistan Expo in Karachi, serves as a good platform as despite the potential available, there lacks constructive engagement in luring more Malaysian investors into Pakistan.
He said 30 Malaysian companies would showcase their products and services in lifestyle (furniture/tablewear/healthcare products), food and beverages, electrical and electronics, chemical and plastic products, automotive parts and components and, education services.
From the Consulate, Malaysian companies can get accurate information and the right networking to do business with Pakistan.
The Consulate also provides a platform and helps Malaysian companies with their branding effort, Abu Bakar said.
After the signing of the Malaysia Pakistan Closer Economic Partnership Agreement (MPCEPA) in 2008, the amount of foreign direct investments from Malaysia improved.
From July 2006 to October 2010, Malaysia’s investment in Pakistan crossed US$900 million, making Malaysia one of the top investors in Pakistan. Some of the prominent investors are Tenaga Nasional Bhd, Petronas, Malayan Banking Bhd and Felda.
Recently, Felda proposed to the Pakistan government to lease 30,000 hectares of land for palm oil cultivation, he added.
— BERNAMA
Source Article from http://www.bernama.com.my/bernama/v7/bu/newsbusiness.php?id=979850
