Singapore: Addressing a group of 50 Company Heads and Council Members of Singapore Manufacturers Association (SMA) at a Networking Session, High Commissioner for Pakistan in Singapore Syed Hasan Javed said here today that being the last major untapped market, Pakistan is the best bet to beat back recession. The SMA consists of Singapore’s Small and Medium Enterprises who invest in Emerging markets.
The Networking Session was the joint initiative of the SMA and Pakistan High Commission in Singapore to assist the firms interested in exploring investment opportunities in Pakistan. The event was also attended by prominent Pakistani professionals and businessmen resident in Singapore, says a press release received here today from Singapore.
The Chairman, of SMA’s South Asia and Middle East Region, Mr. Alok Mishra said that Singapore firms would be looking at investment opportunities in Pakistan with great interest. Ms. Ayla Majid, former Director Islamabad Stock Exchange welcomed the interest of Singaporean companies and spoke on various potential sectors for investment.
Mr. Javed stated that the global economic situation was extraordinary and only diversification in portfolio and focus on emerging markets such as Pakistan, could ensure the corporate profit sustainability of the firms, looking for safe havens. Pakistan, he said is endowed with US $ 30 trillion natural resources (twice of US GDP) with the world’s largest Coal, gold, copper, rock salt, Marble, granite, rare earth and gemstone reserves.
It has the 4th largest hardworking, English speaking and talented labour force. The rate of return on investment is 40-50 percent, which is among the highest in the world. 100 percent repatriation of Equity, Profit and dividend is allowed. Pakistan is the next Asian economic miracle story, waiting to happen, he concluded. Singaporean companies showed keenness to invest in Mining/Mineral Exploration, Energy, Agro food, Logistics and higher education sectors.
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