International News

CHICAGO, (APP): Pakistan, at the crossroads of Asia, offers an ideal destination for investments with one of world’s best rates of investments, a thriving middle class of 50 million people and a per capita income of nearly US$ 5000 per head if calculated in term of purchasing power as well as workforce aged under 30 years, Consul General Faisal Niaz Tirmizi has said.
Speaking at the Silk Road Conference, which focuses on new bilateral business, trade and investment opportunities, he said Pakistan ensured equal opportunities for local and foreign investors in agriculture, energy, mining and gems, infrastructure, transport and communication, IT and telecom sectors.
The Conference, organized by the Central Asian Productivity Research Center, was held at the Illinois Institute of Technology (IIT), Chicago. The Silk Road Conference, which is being organized in Chicago for the last 15 years, attracts many multi-national businesses, members of the diplomatic corps and political figures from all Silk Road countries. Representatives from Afghanistan, China, Azerbaijan, Kazakhstan, Pakistan, Turkey, and Uzbekistan spoke at the Conference.
The Consul General pointed out that leading international publications, funds managers and rating agencies have acknowledged Pakistan’s outstanding economic turnaround. Bloomberg has described Pakistan as the best undiscovered frontier market. Morgan Stanley’s vice president has predicted that the rise of Pakistan is only a matter of time, on account of its strategic location and demographic dividends. Moody’s has upgraded Pakistan from CAA 1 to B-, while Standard and Poor’s have improved the country’s outlook to ‘positive’. On the other hand, Fitch has given a rating of B to Pakistan. All these positive assessments present only a glimmer of what actually lies in store for Pakistan, Consul General said.
Tirmizi also briefed the participants about Pakistan’s efforts to eliminate terrorism and extremism from the country and touched upon the recent achievements made by the country in its war against the forces of darkness.
The Consul General invited the participants to attend the Pak-US Business Opportunities Conference which is being organized in New York by the Embassy of Pakistan, Washington and US Department of State on June 3, 2016.