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Pakistan become best destination for foreign investment: Shah Mehmood Qureshi

Pakistan become best destination for foreign investment: Shah Mehmood Qureshi

ISLAMABAD: Foreign Minister Shah Mehmood Qureshi on Tuesday said that Pakistan has become the best destination for foreign investment.

Talking to a delegation of ‘adecto group’, a Malaysia-based telecommunications infrastructure services company, FM Qureshi said that the government was providing every possible facility to foreign investors and created business-friendly environment in Pakistan.

He said that they introduced new economic reforms and  took various steps for ease of doing business in the country.

Speaking on the occasion, adecto group’s Chief Executive Officer Arif Hussain apprised the foreign minister that his company had invested over $750mn in Pakistan. He vowed to introduce modern structure in telecom sector. The CEO also briefed FM Qureshi about their ongoing projects and new investment in the country.

Earlier on November 16, foreign investments in the country had witnessed a surge of 239 percent during four months of this year-2019- as compared to the last year.

The foreign investments during the ongoing year remained at 650 millions United States (US) dollar. Giving a month-wise breakup, the authorities had said that the October 2019 witnessed inflows of  US$ 108 million, whereas, the same month in the past year witnessed an outflow of US$367 million.

Further divulging details of most investments from countries, they had said that US$264 million were invested from Norway while an inflow of US$122 million was recorded from China.