ISLAMABAD: Pakistan is receiving an “excellent” response from investors and venture capitalists in the UAE, a senior official said on Monday, as various companies and startups from the South Asian country showcased their potential during the second day of an investment roadshow in Dubai.
Pakistan kicked off a three-day investment roadshow in Dubai, UAE, on Sunday in a bid to highlight the country’s investment-friendly climate as it reels from an economic crisis.
The event has been organized by Pakistan’s Special Investment Facilitation Council (SIFC) in collaboration with the United States Agency for International Development. Investors from the UAE and various other nations are participating in the roadshow, the SIFC said.
“Our roadshow has received an excellent response from investors and venture capitalists so far,” Dr. Muhammad Jahanzeb Khan, special assistant to the prime minister on government effectiveness, told Arab News over the phone from Dubai.
Pakistani officials welcome attendees at the Pakistan Investment Road Show during the second day of an investment roadshow in Dubai on November 6, 2023. (Photo courtesy: Pakistan Embassy UAE)
Dr. Khan is also serving as secretary on the SIFC’s Apex Committee.
“This roadshow not only offers investment opportunities but also facilitates meetings between investors and businesses, revealing a dynamic and emerging face of Pakistan’s economy,” he added.
Pakistan set up the SIFC in June in an attempt to revive its fragile economy, which has been dented by low foreign exchange reserves, massive currency depreciation and record inflation. The committee is a hybrid civil-military government body that also features the army chief.
It aims to attract foreign investment by capitalizing on the country’s untapped potential in agriculture, mining, information technology, defense production and energy sectors.
Dr. Khan said the SIFC had meticulously identified investment-worthy companies in Pakistan that were ready to attract international investors and then brought them to Dubai so that they could present their ideas to potential investors.
“During the sessions today, we observed that these companies are innovative and looking for opportunities to grow further through additional investments,” he said. The prime minister’s aide said this presented a unique opportunity for
Pakistan’s ambassador to UAE Faisal Niaz Tirmizi (right) along with other officials attends the Pakistan Investment Road Show during the second day of an investment roadshow in Dubai on November 6, 2023. (Photo courtesy: Pakistan Embassy UAE)
Pakistani companies to seek foreign investments and expand their operations.
These companies are primarily small to medium-sized enterprises that have the potential to create substantial value and contribute to the country’s growth, Dr. Khan said.
He said the SIFC aimed to promote various types of investments, with a focus on vital sectors such as minerals, agriculture, bioenergy, and information technology.
“SIFC plans to conduct sector-specific seminars and expand its efforts to other Gulf countries, including Saudi Arabia, highlighting each sector’s data and potential investments,” Dr. Khan said.
He said the council wanted to create an investment-friendly climate in Pakistan and facilitate various types of investments in the country.
Faisal Niaz Tirmizi, Pakistan’s ambassador to the UAE, said Dubai holds special importance for Pakistan as it hosts a substantial number of investors and venture capitalists.
“The roadshow is progressing successfully, with over 31 Pakistani startups in various sectors, including information technology, agriculture, education, health, and other key areas, participating alongside SIFC officials in it,” Tirmizi told Arab News.
He said Pakistani companies presented their projects to potential investors and received positive feedback during the roadshow. The Pakistani envoy said that during Monday’s session, some investors raised concerns about the stability of Pakistan’s currency.
“They urged to take measures to stabilize the Pakistani currency to ensure the repatriation of their profits and the safety of their investments,” Tirmizi said.
Officials gesture for a group photo at the Pakistan Investment Road Show during the second day of an investment roadshow in Dubai on November 6, 2023. (Photo courtesy: Pakistan Embassy UAE)
