‘Pakistan on world’s radar’

LAHORE: Pakistan is very much on the world radar and a large number of leading business groups are looking the country as an attractive business destination, said Spanish Ambassador Carlos Morales.

Morales, speaking at the Lahore Chamber of Commerce and Industry, said Pakistan is a dynamic country which has a lot for the foreign investors. He said  Spain is one the largest economies and investors of the world. Pakistan is a big market for EU investors. Therefore, Spanish companies are diverting its attention towards Pakistan, he added.

He said energy, textiles, tourism, food products, agro-based products, infrastructure and Spanish cellular technology are the potential areas where private sectors of the two countries could join hands for joint ventures.

He said Pakistan could learn a lot from Spain in tourism sector. Last year Spain earned $65 billion from 68 million tourists.

Senior Vice President LCCI Almas Hyder said Pakistan is a land of opportunities for foreign investors and there is a great scope of cooperation in various industrial sectors between Pakistan and Spain. Hyder said the possibilities of undertaking joint ventures in areas like pharmaceuticals, electrical appliances, food items, engineering goods, agro-based products, mineral and mineral-based products and power generation sectors are very bright.

Seed development is an area where Spain has specialised in and Pakistan being an agricultural country can benefit from the expertise of Spain in this field.