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Karachi: H.E. Hiroshi Oe, Japanese Ambassador to Pakistan and H.E. Choongjoo Choi, Korean Ambassador to Pakistan, visited the Overseas Investors Chamber of Commerce and Industry (OICCI) to discuss investment opportunities in the country.
Both Ambassadors agreed that although Pakistan has great potential in attracting investment, the perceived lack of consistency in economic policies and security concerns played a role in limiting foreign investment in the country.
Ambassador Oe, expressed his interest in working with OICCI in attracting Japanese investment in Pakistan. He also stated that the long outstanding issue of circular debt needs to be resolved soon to ensure stable energy supply so as to encourage investment. The Japanese Ambassador also added that Pakistan should export more value added products.
H.E. Choongjoo Choi, Korean Ambassador to Pakistan also appreciated the business opportunities in the country and added that Korean investors are learning from the experience of existing foreign investors and are keen on investing in Pakistan.
Japan and Korea are already investing in Pakistan’s domestic market, especially in the automotive, machinery sectors and chemical industry. A number of Korean home and telecom brands are already available in the domestic market and Pakistan’s large population offers opportunity for further growth.
The ambassadors met with Mr. Naved A. Khan, President of OICCI who appraised both delegations on the role OICCI plays in facilitating multinational companies in Pakistan. Especially in encouraging investment in the country and facilitating close ties between the Government of Pakistan and the investor community.
The Japanese and Korean delegation included senior members from trade, economic and policy circles. Both Ambassadors expressed their willingness to work with Pakistan to better business opportunities and stated that more was needed on the international front towards eliminating the misperceptions about the country.
OICCI was established more than 150 years ago and is the oldest investment chamber in the country. Its primary function is to foster a conducive, open, and equitable business environment in Pakistan to enable foreign investment in the country.
Diverse both in terms of sector and geography, its 186 members collectively contribute over 29 percent of Pakistan’s total GNP, 22 percent of total tax receipts, and provide direct employment to approximately 150,000 people. For further information on the activities of the Chamber, please log on to www.oicci.org or contact Mr. Ahsan Zuberi (ahsan.zuberi@oicci.org), Communications Officer at OICCI.
For more information, contact:
Abdur Rahman
Communications Officer
Overseas Investors Chamber of Commerce and Industry (OICCI)
Chamber of Commerce Building, Talpur Road, P.O. Box 4833, Karachi – 74000, Pakistan
Tel: +9221 3241 0814 -15
Fax: +9221 3242 7315
E-mail: info@oicci.org, a.rahman@oicci.org
Web: www.oicci.org