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Lahore, June 27, 2023 (PPI-OT): The management of the Lahore Chamber of Commerce and Industry (LCCI) has appreciated the government’s decision to establish a Special Investment Facilitation Council (SIFC), hailing it as a significant step in the right direction. In a statement, President LCCI Kashif Anwar, Senior Vice President Zafar Mahmood Ch, and Vice President Adnan Khalid Butt hoped that the government would ensure representation of the business community in the Council and expressed their support for the council, emphasizing its role as a single window for multi-domain cooperation and highlighting several key benefits it will bring to Pakistan. They said that one of the core functions of the SIFC will be to prepare a long-term roadmap for growth. By conducting in-depth research and analysis, the council will identify key areas of potential and formulate strategies to unlock Pakistan’s latent capabilities. This proactive approach will help attract investment in sectors that have significant growth prospects, create employment opportunities, and drive overall economic development.
Additionally, the SIFC will play a pivotal role in enhancing awareness of Pakistan’s untapped potential, they said adding that through targeted marketing campaigns and promotional activities, the council will showcase the country’s strengths and investment opportunities to a global audience. By effectively communicating Pakistan’s advantages, the SIFC aims to attract investment from diverse sources and expand its cooperation beyond traditional partners. Moreover, the SIFC is committed to improving the ease of doing business in Pakistan. By streamlining administrative processes, reducing red tape, and implementing investor-friendly policies, the council aims to create a conducive environment for businesses to thrive. They further added that this will not only attract new investments but also encourage existing investors to expand their operations, leading to job creation and economic prosperity.
The Lahore Chamber of Commerce and Industry welcomes the establishment of the Special Investment Facilitation Council (SIFC) and recognizes its potential to boost Pakistan’s economic growth. By serving as a single window for multi-domain cooperation, preparing a long-term growth roadmap, enhancing awareness of latent potential, exploring new opportunities, and improving the ease of doing business, the SIFC will play a pivotal role in attracting investment, fostering collaboration, and driving sustainable development. The LCCI looks forward to actively participating in the council’s initiatives and contributing to Pakistan’s economic prosperity.
President LCCI, Kashif Anwar, has emphasized the need to enhance the scope of the Special Investment Facilitation Council (SIFC) beyond the Gulf Cooperation Council (GCC) countries. In addition to attracting investments from GCC nations in sectors such as defense, agriculture, minerals, IT, and energy, President LCCI advocates for expanding the council’s reach to Africa and Central Asia. He further recommends incorporating sectors like tourism, housing and construction, and food processing into the SIFC’s purview.
For more information, contact:
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
11-Shahrah-e-Aiwan-e-Tijarat,
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-36368854
Website: http://www.lcci.com.pk/
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