CHICAGO: Pakistan’s Ambassador to the United States has said that the Special Investment Facilitation Council (SIFC) will act as a single window to facilitate investors, establish cooperation between all ministries and departments in the country, and fast-track project development.
He said that the core objectives of the SIFC include the revitalization of Pakistan’s economy, integrating it with global capital markets, and ensuring continuity and steadiness of policies by adopting best practices and providing a salutary investment milieu.
The envoy identified five areas ripe for investment in Pakistan – IT, agriculture, mining, energy, and defense production.
He said that the SIFC would shorten lengthy processes for business, develop a whole of the government approach and tap the country’s potential in key sectors of energy, mining, information technology, agriculture, and defense production by generating and attracting foreign direct investment.
He made these remarks in his keynote address during a day-long “Future of Everything Summit” hosted by OPEN Chicago on Sunday.
Met Michael Fassnacht @mfassnacht56 President and CEO of World Business Chicago @WorldBizChicago. Explored B-to-B collaborations between Pakistani businesses and American companies based in Chicago and Midwest. @PakinUSA pic.twitter.com/RvWHix4XHO
— Masood Khan (@Masood__Khan) October 14, 2023
Organization of Pakistani Entrepreneurs (OPEN) Chicago is a not-for-profit association dedicated to the promotion of professional excellence and entrepreneurship within diaspora communities in Chicagoland and the Midwest. Its membership includes entrepreneurs, venture capitalists, professionals, scientists, academics, social leaders, and students. The one-day gathering was aimed at exploring how emerging social and economic trends, technologies, and environmental challenges transform industries and create new opportunities.
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Ambassador Highlights Pakistan-US Ties
The envoy said Pakistan and the United States had a strong strategic and economic relations for the past 76 years. This partnership continues, and it has brighter prospects for its growth.
He said that the two countries have recalibrated and rejuvenated their ties by emphasizing equally the security and non-security dimensions.
In the non-security realm, the envoy said, the two countries were enhancing the space for economic partnership encompassing investment, trade, healthcare, education, energy, climate change, agriculture, technology, and people-to-people exchanges.
Masood Khan said that this is an ideal time to invest in Pakistan and to promote its products and services in the US. All fundamental elements are needed for Pakistan to grow.
Addressed the “Future of Everything Summit” organized by @OPEN_Chicago.
Open pursues connectivity, entrepreneurship and professional excellence.
My message to this vibrant group of Pakistani- American in Chicago: Invest in 🇵🇰 and invest in the future of 🇵🇰 🇺🇸 relations. pic.twitter.com/Il1ldSt9G9— Masood Khan (@Masood__Khan) October 14, 2023
Underlining the potential of Pakistan, particularly its vantage position to serve as a trade and business corridor, the envoy said that Pakistan is part of a new business ecosystem that is called MENAP (Middle East, North Africa, and Pakistan) by venture capitalists. The population of this region is six hundred million, out of which 230 million are Pakistanis.
