Overseas Investors Chamber of Commerce and Industry (OICCI) has re-invested over $2.7 Billion in Pakistan, which is highest ever on a comparative basis over the last few years. The investment by OICCI members is almost at par with the total Foreign Direct Investment (FDI) of $2.8 Billion in the country during the same period.
In the past six years, OICCI members have re-invested $10.4 Billion, whereas FDI inflow in the country was only $11 Billion, which reflects the extreme confidence of the leading foreign investors on opportunities in Pakistan.
These views were expressed by President of the Overseas Investors Chamber of Commerce and Industry (OICCI) Mr. Irfan Wahab Khan and Secretary General M Abdul Aleem during an interactive session with leading media representatives in Karachi.
Giving a balanced assessment of the business environment, the OICCI team presented key highlights of its bi-annual Business Confidence survey – wave 16, which had indicated a downward trend with an overall Business Confidence score (BCS) of 14%. However, the BCS of OICCI members only, was significantly more bullish at 38%, reinforcing a clear message about the positive sentiments of foreign investors.
70% members of OICCI had indicated plans to make additional investments in the country and strongly recommend Pakistan to potential new foreign investors.
The OICCI President, however, cautioned that “Sentiments are dependent upon the expectations that the government will soon unveil growth-oriented economic and trade strategies revitalize the economy and put the country back on a fast track of economic growth.”
As for the investment potential in Pakistan, Secretary-General OICCI, M. Abdul Aleem informed that “Pakistan with over 200 million population and a strong middle class of 70 million, is a highly attractive market opportunity for investors.”
OICCI is the collective voice of top 200 foreign investors in Pakistan, who have an asset base of over $90 Billion and contribute roughly one-third of the tax collection in the country.