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Pakistan, best place for multinationals: Speakers.

Lahore -- Multinationals always played a fundamental role in economic uplift of any country as they do bring much-needed foreign investment and create employment opportunities for the locals. A large number of multinationals are operating in Pakistan successfully that is an ample proof of this fact that Pakistan is a best place for the foreign investors.

Speakers have expressed these views during the conference on Role of Multinationals in the Economic Development held here at the Lahore Chamber of Commerce and Industry (LCCI) on Thursday.

The speakers said that Pakistan would have a special policy framework to attract more and more multinationals as they would bring foreign investment, create employment opportunities and help transfer of technology.

The LCCI President Ijaz A. Mumtaz said that Pakistan is a very attractive ground for multinationals. Majority of Multinationals are extremely happy as they make maximum profits and are freely able to repatriate their profits without any hindrances. They make maximum profits in this region.

As a matter of fact, multinationals in Pakistan are number one in their total exposure. Even the young CEOs of these multinational companies in Pakistan are promoted rapidly and they get maximum recognition, he added. The LCCI Senior Vice President Mian Nauman Kabir said that the very objective of this Conference is to bring the local businessmen and the multinationals on a common platform for mutual benefits

He said that the representatives of top multinational companies from France, United Kingdom, USA, Japan, Norway and Netherlands are sharing their experiences, concerns and issues at this platform. This would indeed help the local businessmen to understand the dynamics of good governance and best international practices as followed by multinationals in Pakistan.

Ijaz A. Mumtaz said that both country and consumers do benefit when MNCs enter in any country. They bring along technology, systems and international experience with them. He said that on the other hand consumers are able to get access to the same level of services, comfort and convenience as anyone else can have in the world.

We know that expansion of businesses either done by existing or new MNCs, the foreign direct investment finds its way to our market. Our own national business groups can follow their model and become MNCs by way of proving their worth in international market, Ijaz A. Mumtaz added.

Mian Nauman Kabir said that multinational companies are contributing greatly to the economy of Pakistan and playing a key role in various areas of the economy. He said that no country can even dream about GDP growth until and unless participation of the multinationals in the economic activities. Representatives of the multinational companies operating in Pakistan, shared their rich experiences and views with the participants and said that Pakistan is an important country of the South Asia and a very good destination for foreign investment.

The LCCI President Ijaz A. Mumtaz, Senior Vice President Mian Nauman Kabir, Vice President Syed Mahmood Ghaznavi, former LCCI Presidents Bashir A. Buksh, Iftikhar Ali Malik, Mian Muzaffar Ali, Chief Executive Officer of Total PARCO Pakistan Marc Soissong, Ben French of British High Commission, Yahya Khan of Telenor Pakistan, Naveed Choudhry of Sika, Chief Executive Officer of NYK Line Tariq Masood and Regional Manager of Shell Pakistan Yasir Ali were the key speakers amongst the others.
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Publication:The Frontier Star (Northwest Frontier Province, Pakistan)
Date:Aug 28, 2015
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