Govt is Determined to Increase FDI: Faisal Rasheed

In lieu of the improving security situation, the government is determined to maximize foreign direct investment (FDI) despite facing internal challenges, said United Kingdom House of Commons member Faisal Rasheed.

Faisal Rasheed said that he had set up a BRI (Belt and Road Initiative) group in the UK parliament; focusing on CPEC (China-Pakistan Economic Corridor), he stated this in a meeting at the Faisalabad Chamber of Commerce and Industry (FCCI).

“I had a meeting with the Chinese ambassador before starting this group in September 2019 and the objective of the group is to raise awareness surrounding the potential this corridor holds after its completion,” he pointed out.

According to Rasheed, British investors were looking for business opportunities in the energy and logistics-related projects, now that the ease of doing business in the country had improved.

Rasheed was of the view that investing in Pakistan would be beneficial for all sides involved; there would be generous returns for the investors while creating jobs for the youth.

Pakistan had been beset with problems due to the Afghan War and 9/11 incident. Which had led to “Investors and foreign institutions leave(ing) the country due to the worsening security condition” and he further added, “This led to foreign airlines canceling flights to Pakistan due to the issuance of travel advisories.”

The situation has started approving after the last general elections and change of government; Rasheed said he had had two meetings with the new Prime Minister Imran Khan, who too wanted to maximize FDI.

He said that the country still faces formidable challenges both internal and external but it is on the right course and he was confident that it would show a positive result in the coming years.

He stressed that the government of Pakistan should seek to improve trade relations with other countries rather than focusing on seeking aid. He promised that “I will ensure in my capacity as the head of the International Trade Committee of the UK parliament, that Faisalabad is given significant attention in my trade strategy”

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