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United Nations Conference on Trade and Development (UNCTAD) will hold an
Investment Forum at Pakistan in December 2004 to encourage ongoing investment
activity particularly in Information Technology sector and to provide an
opportunity to Pakistan to showcase its policies being persuaded for the
promotion of investment, trade and economic development.
The representative of UNCTAD Mr. Khalil A. Hamdani stated this during a
meeting with the Federal Minister for Privatisation & Investment Dr. Abdul
Hafeez Shaikh here today.
The meeting focused several areas of cooperation to explore new avenues of
UNCTAD's cooperation with Pakistan including UN support in capacity building
of Board of Investment (BOI), to develop an instrument through Islamic
Development Bank (IDB) for promoting FDI to OIC countries and for Pakistan's
more aggressive and active role in the forthcoming UNCTAD meeting.
Dr. Abdul Hafeez Shaikh, Federal Minister for Privatisation & Investment
apprised the UNCTAD representative regarding the Government's endeavor
undertaken to promote investment and economic development in the country.
The private sector was the engine of growth and all out efforts were being
made to extend incentives for private sector investment in all sectors, he
said.
The Minister said that an Investment guide on Pakistan would be developed to
facilitate the investors around the globe. Pakistan was one of those countries
which had successfully gone through an ambitious stabilization and adjustment
program and was now looking for a robust supply response to ensure sustainable
growth through long term portfolio, FDI, consistency and continuity of the
economic, investment, trade and privatisation policies, he said.
He added that the seminal work rendered by UNCTAD in the area of Foreign
Direct Investment (FDI) through the publication of Annual Investment Reports
and its advisory and technical assistance programs at national, regional and
international levels had played a vital role in highlighting its objectives.
Pakistan was keen to promote such flows of investment into OIC countries
through the introduction of innovative direct investment schemes among its
members, including the creation of joint investment promotion agency, he said.
Mr. Khalil A. Hamadani, UNCTAD representative lauded the sound fiscal and
macro economic policies and appreciated the measures undertaken by the
government to strengthen the economy, which had made Pakistan an attractive
place for investors. The theme of the UNCTAD's upcoming meeting being held in
the second week of June is, 'Global Coherence & National Development
Strategies'.