US multinationals eyeballing Pakistan potential

ISLAMABAD: Aizaz Chaudhry, Pakistan’s Ambassador to US, has asked multinationals firms to give a serious thought to tapping business opportunities offered by Pakistan, a statement said on Saturday. 

“The security situation has improved considerably. The improved security situation is having a dynamic effect on our economy and Pakistan is attracting foreign investment from all over the world,” Chaudhry told the representatives of a number of US multinational firms during a luncheon reception. 

The reception was hosted in his honour by the Potomac Exchange, Washington, DC. 

The ambassador said Pakistan had a tremendous economic turnaround witnessed in recent years.

“All the economic indicators are projecting upward trend in various sectors of the economy,” he added. 

Detailing the US business leaders about its salient features, Chaudhry stressed China- Pakistan Economic Corridor (CPEC) project would benefit not only Pakistan but the entire region.

“In an era of changing economic alignments, regional connectivity is the key to progress & prosperity,” he added.

Ambassador Chaudhry underscored the need for bringing the US travel advisory in consonance with the positive reality of today’s Pakistan. 

In the follow-up discussion, participants asked a number of questions focusing on different sectors of the Pakistan’s economy and the investment opportunities available to foreign investors.

Katherine Moss, President Potomac Exchange, stated the business community was delighted to know about the improvement in the economic and security situation in Pakistan.

"The members are looking forward to benefitting from new investment opportunities in Pakistan,” Moss said. 

The Potomac Exchange is a Washington, DC based business forum, which facilitates meaningful dialogue between US businesses and foreign missions in the United States.

Its members are some of the largest multinational companies of the US, including Aetna, 3M, Bank of America, BMW Group, Boston Scientific, Kodak, Fluour, General Mills, Google, Lockheed Martin, McGuire Woods, Oracle, Pernod Ricard USA, TE Connectivity, Coca Cola and Viacom.

Senior executives from these companies attended the lunch.