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Hina Mahgul Rind
Sunday, September 01, 2013
From Print Edition
 
 

 

KARACHI: The US government has no objections to the construction of a harbour at the Gwadar Port by China as it sees it as another world-class port, generating new avenues for the development of the province, a US official said on Saturday.

 

Addressing the entrepreneurs at the Startup Cup business competition, US Consul General Michael Dodman said, the United States that the US has no issues with this progress.

 

“It is great to have another world class port, which will generate new avenues for the development of the people of Balochistan. It will help develop the region and create new jobs and opportunities in the country.

 

He said that his government has no objection to the harbour construction rather he will like to have some firms of his country to invest in the projects there.

 

Dodman said that the port will serve as a transit point to the supplies for Afghanistan and Central Asian states. “It is great to have another world class port,” he added.

 

The US military’s exit from Afghanistan will increase transportation of army and other cargoes through Pakistan, which serves as the transit route, he said, adding that the US Embassy in Islamabad is in close cooperation with the government of Pakistan and the Karachi Port authorities to handle the flooding supplies expected in 2014.

 

He said the US is interested in improving bilateral trade ties with Pakistan and for that the US is trying to tap those opportunities.

 

The US believes that fast growing businesses are the key to the Pakistan’s economic future, Dodman said.

 

Under the Startup Cup competition, young entrepreneurs from across the region are receiving training and guidance for their businesses.

 

The event was organised by the Indus Entrepreneurs (TiE) Islamabad Chapter and funded by the United States Department of State. The aim of the programme was to help identify and assist aspiring young entrepreneurs to transform their ideas into successful businesses.

 

Dodman said that small and medium businesses are the key drivers of the economy and Pakistan. The US has designed a new economic plan for Pakistan called Venture Capital Fund for small scale entrepreneurs, which will be launched later this year.

 

Later talking to newsmen, he said a new initiative of generalized system of preferences (GSP) has been undertaken to help underpin Pakistan’s economy through zero-rated facility to access the US markets for exports.

 

He expressed the hope that the startup cup will open new opportunities in Pakistan to generate jobs and bring about fresh investment to boost the country’s economy.