Overseas Investors Chamber of Commerce and Industry (OICCI) forecasts healthy growth of its business entities in Pakistan with an overwhelming 80 per cent of respondents willing to recommend new Foreign Direct Investment (FDI) in Pakistan.
OICCI on Monday unveiled the results of the biennial “Perception and Investment Survey 2021”. The survey results present an array of insights, shedding light on the increase in confidence of OICCI members on the growth potential of the country and some areas where government attention is required.
OICCI President Ghias Khan, in a meeting with the media representative here on Monday, shared the salient features of the survey and highlighted that foreign investors are largely positive on several business parameters.
The survey results shed light on the increase in the confidence of the OICCI members on the growth potential of the country and some areas where the government’s attention is required.
Compared to the previous survey, Pakistan has been rated “Better” ahead of India, Thailand, Vietnam, Bangladesh, Sri Lanka and Philippines but behind Indonesia, Malaysia, UAE and China.
The survey respondents have been positively influenced, amongst other considerations, by measures of easing business operations such as improved banking infrastructure, access to local financing avenues and repatriation of profits. However, concerns have been shown on the ease of doing business and the perception of Pakistan.
Ghias Khan shared the salient features of the survey and highlighted that the foreign investors are largely positive on several business climate parameters.
Secretary General, OICCI, M. Abdul Aleem added that “OICCI members have once again emphasized on the need for a predictable, consistent, and transparent policy framework and its fair implementation. Governance issues, including ‘Gap in Policy implementation’ continue to remain an area of serious concern along with increasing tax burden and cost of doing business. These factors not only hinder the business environment but also contribute to lower FDI in the future.” The survey also highlighted sector-wise issues which OICCI intends to take up with the concerned stakeholders.
While engagement of the federal government with investors has slightly declined compared to the previous survey, OICCI members have acknowledged that senior functionaries in the federal government have shown understanding and commitment to resolve investors’ issues.
