Huge Potential for Foreign Investment Exists in Pakistan

Huge Potential for Foreign Investment Exists in Pakistan

Executive chairman Wenham Major, Ammar Azam, has said the economic growth in Pakistan is impressive and there is a huge potential for foreign investment in the real estate, telecommunication, power and banking sectors.

Azam told Saturday that Wenhamn Major is one of the leading financial and business advisory firms in the Midlands and also ranked as the 23rd UK biggest accountancy firm.

He said Pakistan is emerging economy and the economic commentators spoke of spectacular economic growth and development, and dynamic and increasingly accessible markets, with the 21st century being described as Asia Pacific's century.

He said liberalisation of the economy continued apace with trade barriers largely removed and privatisation programmers gradually reducing the still-significant role of the public sector in the production and consumption of goods.

"We have established our office in Lahore. We have encountered a global economic hub, which has opened up new opportunities both for our own business to trade with economies, such as Pakistan, and for our clients to break into markets in the Asia Pacific rim," he said.

He said dynamics of business had changed altogether in the globalised competitive business environment. "Wenham Major has the resources base to assist the Government of Pakistan in delivering economically sound citizen-centre services to the nation, ensuring greater levels of transparency and sustainable economic development," he added.

He said his group helped its Pakistani investors in making international investment decisions by providing investment expertise. "The Major real estate has developed a separate Non Resident Pakistani division for investment advisory at its UK and Dubai offices for the best facilitation of its expatriates clients," he said.

He said there was a huge scope of promotion of SMEs in Pakistan. By providing solid base to the SMEs sector, Pakistan's economy could achieve a significant growth. But he was critical of high rate of interest in Pakistan. He said high interest rate for SMEs left a negative impact on the growth of SME.