A high level delegation comprising of prominent businessmen and investors from Bahrain called on Prime Minister Muhammad Nawaz Sharif at PM Office today.
H.E. Mr. Zayed R. Alzayani, Minister for Industries, Commerce & Tourism, Kingdom of Bahrain was also present on the occasion. The Bahraini business delegation was led by Mr. Khalid Almoayed, Chairman, Bahrain Chamber of Commerce and Industries (BCCI).
While warmly welcoming the business delegation to Pakistan, the Prime Minister stated that Pakistan welcomes the initiative of establishing the Pakistan-Bahrain Joint Holding Company by Bahraini Businessmen. We are confident that it will be successful in increasing bilateral trade and investment, said the PM.
The Bahraini businessmen appreciated the Prime Minister’s policy of welcoming Foreign investment and said that they are keen to play an active role in expanding the volume of trade between both countries.
The Prime Minister informed the delegation about China-Pakistan Economic Corridor and stated that CPEC is not only a framework of regional connectivity, but a game changer for the region. CPEC is a corridor of energy, roads, motorways, pipelines, rail networks and optic fiber with an investment outlay of over US$ 51 billion, added the PM. Government, as well as business community of Bahrain can benefit immensely from the opportunities and prospects offered by CPEC, said the PM.
The Prime Minister stated that the Economic outlook of Pakistan has altogether changed in the last three years, which is being acknowledged by independent financial rating institutions. “My government after coming into power started making best efforts to put the economy on a path of sustained long-term economic growth. In this context, focus remained on public-private partnership in the development process, improved productivity in agriculture sector, removal of energy shortage, enhanced industrial competitiveness, better service delivery system and upgraded human capital formation”, stated the PM.
The Bahraini delegates expressed their keen interest to take part in Pakistan's emerging economy and highlighted their interest in further expanding exports from Pakistan for Gulf counties.
The PM further stated that Pakistan is open for business. There are over one thousand Multinational companies profitably operating in Pakistan. They enjoy a level playing field with the domestic investors and do not face any barriers to entry or exit. They can expand capital and infrastructure without hindrance, added the PM.
The PM said that the Foreign Direct Investment is protected under Law through the Acts of Parliament and the Law of Special Economic Zones has been made to meet the global challenges of competitiveness to attract Foreign Director Investment (FDI). The Law allows creating industrial cluster with liberal incentives, infrastructure, investor facilitation services to enhance productivity and reduce cost of doing business for economic development and poverty reduction, said the PM.
The Prime Minister assured the delegation that Pakistan is a land of unlimited opportunities and offers investment opportunities in various sectors such as Energy, Agriculture, Food processing, Infrastructure, Information and Communication Technology, Textiles, Apparel, Surgical Instruments and Leather products. “I am confident that investors from Bahrain will benefit from opportunities arising from the economic growth of Pakistan leading to further growth of our trade relations” stated the PM.
The Bahrain Chamber of Commerce & Industries’ delegation thanked the Prime Minister for his warm welcome to Pakistan and expressed the hope to further strengthen trade ties with Pakistan.
The Business delegation of Bharian comprised of Mr. Khalid Al Zayani, Vice Chairman BCCI, Sheikh Mohamad Bin Isaac, Senior Member BCCI, Mr. Muhammad Sajid, Executive Board Member BCCI, Mr. Muhammad Usman, Chairman Joint Council BCCI, Mr. Ahmed Bin Hindi, Executive Board Member, Mr. Ali Ahmed Bufarson, Member Parliament, Mr. Ahmed Al Saloom, Chairman SME Council, Ms. Ferial Nas, Chairwoman of Business Council, Ms. Suhair Bokhammas, Member BCCI and others.
Mr. Muhammad Ishaq Dar, Minister for Finance, Engineer Khuram Dastagir Khan, Minister for Commerce, Mr. Javed Malik, Ambassador to Bahrain and other senior officials were also present during the meeting.