Pakistan on Sunday launched a three-day investment roadshow in the United Arab Emirates (UAE) as it seeks to boost foreign investment amid an economic slowdown in the country.
Special Investment Facilitation Council (SIFC) has organized a three-day campaign in collaboration with the United States Agency for International Development. Radio Pakistan reported that the roadshow intends to attract investors from around the world and apprise them of a conducive investment climate in Pakistan. “The roadshow, which will be attended by investors from the UAE and other countries, will highlight the SIFC’s efforts to improve investment climate in Pakistan,” the report read.
“The roadshow will also provide awareness about the valuable resources and investment opportunities available in Pakistan and attract investors in the diverse sectors, including minerals, information technology, agriculture and energy.” Arab News reported that cash-strapped Pakistan is on a tricky path to economic recovery under a caretaker government after it narrowly escaped a default on its debt obligations earlier this year due to the last-gasp $3 billion fresh deal that replaced an incomplete and stalled program.
It added that in June, the South Asian country set up the SIFC, which also includes its army chief, with the sole purpose of reviving the frail economy, which has been dented by low foreign exchange reserves, currency depreciation and record inflation. The council aims to attract foreign investment by capitalizing on the country’s untapped potential in agriculture, mining, information technology, defense production and energy sectors.
