UK
Launch of London Economic Hub at Royal Albert Dock
High Commissioner makes a strong pitch for Pakistan as a lucrative investment destination
Asian Business Park (ABP), a Chinese Investment Enterprise and Developers, formally opened its £1.7 billion mega project at Royal Albert Dock (RAD) on 5 December 2019 after its ground breaking early last year. RAD had traditionally been a business and trading port since 19th Century.
The High Commissioner for Pakistan to the UK, Mohammad Nafees Zakaria was invited as a Keynote Speaker on the occasion. The CEO of the ABP was introduced to the High Commissioner couple of months back by Pakistan Britain Business Council (PBBC).
High Commissioner availed the opportunity of the presence of business people and potential investors from different countries and made strong pitch for Pakistan as a lucrative destination for investment and doing business.
Highlighting Pakistan’s advantageous geographic location in the region, he said that the country was a natural regional economic hub and energy corridor. Pakistan was best placed to facilitate regional connectivity and collective prosperity for the people in the region, he added.
Mr. Zakaria identified SEZs, Tourism related infrastructure projects, oil & gas exploration projects, IT & ITeS as the focus areas of the government to attract investments. Under SEZs, he informed the audience about the government’s priority sectors for setting up industrial enterprises. The High Commissioner cited the reports and declarations of the economic houses/institutions that defined Pakistan as a land of million opportunities, among the fastest growing economies, upgrading of the country’s rating to stable by Moody, rise in ranking in Ease of Doing Business in World Bank’s 2020 Report which raised Pakistan’s ranking 28 place up, 40% rise in Key stocks crossing 40,000 points as reported by Bloomberg and among world’s next 10 destinations for tourism.
He congratulated the ABP’s CEO, his team and the Mayor on the landmark economic hub initiative while expressing Pakistan’s interest to use the platform to the advantage of both the countries. PBBC’s Chairman & Honorary Consul of Pakistan, Mr. Julian Hamilton Barnes, also highlighted Pakistan’s economic potential, shared his experience of conducive climate for business in Pakistan and offered PBBC’s services to facilitate those wanting to do business and investment in the country.
The ABP CEO and the Mayor welcomed Pakistan’s interest while briefing the audience on the project. They also warmly greeted the FPCCI business delegation for their participation at the inaugural event, which was followed by the networking session.
The High Commissioner also separately briefed the FPCCI delegation on the business opportunities and ways and means to promote Pakistani products in the United Kingdom.
