It appears – from a global bird’s eye view – that Pakistan could be the next hub of innovative business. Over the last few weeks, three different regions have announced upcoming partnerships or collaborations in Pakistan that they plan on undertaking.
First off is France. Thierry Pfimlin, the President of the Pakistan-France Business Council and VP of the (Asia Pacific Region) TOTAL contacted Parisian Senator Ishaq Dar, the Finance Minister. Pflimlin made him aware of an upcoming business delegation from France. This is because there are currently quite a few companies in France that are considering the possibility of establishing partnerships in Pakistan while bolstering the business relations that already exist there. The main industries that would be engaging in such collaboration are: food processing, gas, infrastructure development, mining, oil and railways.
In Bahrain the Pakistan Embassy there set up the first conference focusing on Pakistan Bahrain business opportunities that took place three days ago. Participants included over 350 delegates from the GCC region, Bahrain and Pakistan. Overseas Pakistani businessman that work in Gulf countries (along with delegations from Qatar Kuwait, Saudi Arabia and UAE) also took part in the conference.
China is likewise looking at Pakistan for investor relations. It is Huawei Technologies Co. Ltd. that – given the upgraded Pakistani security situation – is looking into business expansion. This Chinese multinational networking and telecommunications firm plans to develop five safe cities in Punjab while providing services in execution of CPEC-based projects, primarily for placing data cables for improved telecom connectivity at home and abroad.
With the improved security situation as well as the most recent signing of the multilateral convention on tax co-operation, the region is becoming an attractive one for FDIs.