Pakistan ready to offer first mover's advantage for Korean investors
Pakistani Ambassador to Korea Rahim Hayat Qureshi, seventh from right in front row, Liberty Korea Party lawmaker Cho Kyoung-tae, ninth from right in front row, International Food Culture Exchange Association Chairwoman Ryoo Hyun-mi, eighth from right in front row, pose with other participants in the inaugural Pakistan-Korea Culture, Food and Business Forum at the Imperial Palace Hotel in Gangnam-gu, Seoul, July 10. / Embassy of Pakistan
By Yi Whan-woo
Pakistan is ready to offer investment opportunities for Korean business people, as the country is “on track for sustainable economic growth” with enhanced security and a stable energy supply, according to its top envoy to Seoul.
Pakistani Ambassador to Korea Rahim Hayat Qureshi said his country’s strategic location connecting South Asia, China and Central Asia could also offer potential Korean investors an opportunity to “benefit from the economic revival and enjoy the first mover’s advantage.”
“As a result of bold economic reforms, Pakistan has achieved significant improvement in all major economic indicators,” he said during a recent Pakistan-Korea Culture, Food and Business Forum at Imperial Palace Hotel in Gangnam-gu, Seoul.
“The improved security environment in Pakistan has already generated enhanced investor interest and enthusiasm ... Happily, on account of the comprehensive strategy adopted by the government, energy supply, at least for industry, is much better than before and will improve further.”
He stressed that Pakistan has the world’s sixth-largest population of 200 million and growing consumer demand amid major counter-terrorism operations.
He pointed out that there has been no power outages for the industrial sector in the past year and that his country is “well on course to eliminate all kinds of power shortages” by the end of 2019.
He described his country is located on “Asia’s premier trade, energy and transport corridor.”
“It is also the gateway to the energy-rich Central Asian States, the financially liquid Gulf States and the economically advanced Far Eastern economies,” he said.
He noted that the China-Pakistan Economic Corridor, in partnership with the One Belt One Road initiative, is a key regional initiative for connectivity and shared prosperity of nations.
“Pakistan, located at the intersection of three engines of growth in Asia — South Asia, China and Central Asia — is uniquely positioned to become a hub to connect a population of more than three billion in these regions,” he said.
“Pakistan, with the sixth-largest population in the world and 80 million people in the middle-class bracket, is an ideal destination for investment.
“I invite you to take benefit from the economic revival of Pakistan and enjoy the first mover’s advantage.”
The embassy and International Food Culture Exchange Association here co-hosted the inaugural Pakistan-Korea Culture, Food and Business Forum to bolter cultural exchange and trade between the two sides.
The ambassador said the event was the embassy’s “humble effort” to provide a platform for potential investors to enjoy first-hand interaction with Korean business people in Pakistan as well as Pakistani organizations responsible for foreign investment.
More than 100 Korean participants joined the foreign dignitaries.
Among them were Cho Kyoung-tae, a Liberty Korea Party lawmaker and a member of the National Assembly’s Special Committee on Budget and Accounts, Ryoo Hyun-mi, chairwoman of International Food Culture Exchange Association and Muhammad Shfaiq Haider, counselor for community welfare and cultural affairs at the embassy.