‘Special policy needed to attract multinationals’

LAHORE: Pakistan needs a special policy framework to attract more multinationals that would ensure transfer of latest technology to the country as well, speakers at a conference said.
The speakers representing renowned multinationals, at the conference on “Role of Multinationals in the Economic Development” at the Lahore Chamber of Commerce & Industry (LCCI), were of the view that multinationals play a fundamental role in economic uplift of any country as they bring much-needed foreign investment and create employment opportunities in the host country.
“Pakistan is an important country of South Asia and a very good destination for foreign investment,” they said.
The LCCI President Ijaz A. Mumtaz said Pakistan is a very attractive ground for multinationals. Majority of the multinationals are extremely happy as they make maximum profits and are freely able to repatriate their profits without any hindrances. They make maximum profits in this region.
“We know that expansion of businesses either done by existing or new MNCs, in both cases the foreign direct investment will find its way to our market. Our own national business groups can follow their model and become MNCs by way of proving their worth in the international markets as well,” LCCI president added.
The LCCI Senior Vice President Mian Nauman Kabir said the representatives of top multinational companies from France, United Kingdom, USA, Japan, Norway & Netherlands are sharing their experiences, concerns and issues at this platform. “This would indeed help the local businessmen to understand the dynamics of good governance and best international practices as followed by multinationals in Pakistan,” he added.