PM assures security, returns to investors

DAVOS: Prime Minister Syed Yusuf Raza Gilani Thursday said Pakistan offered extensive investment opportunities and high returns for foreign entrepreneurs.He invited the foreign businessmen to invest in Pakistan and said the government was in place to ensure safe business environment for the investors."Investing in Pakistan is investing in future," the Prime Minister said while addressing a lunch he hosted for the leading businessmen here on the sidelines of the World Economic Forum.The Prime Minister said Pakistan's sound fundamentals offered the investors an opportunity to explore the country's economic potential in diverse fields.Gilani emphasized the need for more foreign investment coming into Pakistan and benefit from its investor-friendly economic policies.He said Pakistan's liberal economic regime with zero import duty on raw material provided equal opportunities for the local and foreign businessmen. He said Pakistan was though confronting with a number of challenges including economic crisis, however the democratic government was struggling to improve the situation."Despite all the challenges, economy continues to be buoyant and vibrant in Pakistan," the Prime Minister said, adding the country's mineral and work-force resources had the great potential to be fully tapped.He said the government had converged its focus upon the development of agriculture sector to utilize it particularly during the recession phase."It will be just a matter of time that Pakistan will become a regional hub of economic activity," the Prime Minister said.Gilani said the government was taking a number of strategic measures, and mentioned increased trade with Afghanistan and improved regional mechanism with the SAARC countries.He said a deep seaport at Gwadar had been established for greater economic activity among the Central Asian and Asian states.He said the improved economic plan for civil aviation, customs and logistics would substantially enhance the country's trade activities.The Prime Minister said Pakistan had the capacity to join hands with partners in food security, being a major food producing and also the fourth largest milk producer in the world.Prime Minister Gilani said in WTO context, Pakistan would support substantial reduction on tariffs in the developing countries.Earlier, the prime minister who is here to represent Pakistan at the annual World Economic Forum, met Chief Executive Officers of Coca Cola and Metro cash 'n carry group and urged them to bring in more investments into the country.Prime Minister Gilani who is here in the snowy alpine town to seek more investment for Pakistan said his government would assure maximum security to the foreign investors and provide them best possible facilities.The CEO of Coca Cola company Mukhtar Kent said his company plans to invest US$ 200 million in Pakistan and establish plants for preparing concentrated juices, introduce a variety of teas, sports drinks, beverages and other products of international standard.Tuncay Ozilhan, the Chairman of the Metro group in his separate meeting with PM Gilani said his group will open a store in Karachi next month, while more stores at Sialkot and Multan would be opened soon.He said the group had planned more stores, but because of the global financial crisis its plans had to scale down a bit. He hoped the new stores will create more job opportunities in the country. He said the group was concentrating on frozen sea-food and high quality rice as well.