KARACHI, Nov 23: City Nazim Syed Mustafa Kamal on Thursday told a Swiss mission that improving law and order situation and government’s swift actions to make Karachi a modern and developed megalopolis of the world have helped the city attract businessmen and investors from across the globe.
“At present, a direct investment of US dollars 900 million has been pumped in the city’s economy while Asian Development Bank has doubled its aid for the Mega City Development Project, making it a US dollars 800 million scheme,” Mr Kamal said this during his meeting with the Switzerland’s ambassador
Markus Peter at City Nazim’s office in KWSB.
Swiss consul-general Martin Bienz and Deputy Head of Mission Konstantin Obolensky were also present in the meeting.
The City Nazim said: “We have already launched a study of the Mega City Development Project with US$ 13 million and one will witness huge positive changes in terms of trade activities.”
The Swiss ambassador discussed in length about the huge potential of investment in various sectors in the city for Swiss investors and businesspeople and said the companies in his country were particularly taking interest in investing in solid waste management, transportation, infrastructural improvement and pharmaceutical business.
He said a high-level business delegation from Switzerland would visit Karachi in February to explore investment opportunities in various sectors.
He lauded the city’s municipal leadership and said it had made great contributions in introducing positive changes to the city.
He referred to Bagh Ibne Qasim, which, according to him, had left him wondering at the pace it had been constructed and developed.
The city Nazim said the present municipal leadership was clear about the goals and means, thereof, to develop the city in the least possible time.
“We are completing a bridge in six months, which used to be completed in 11 years in the past.
“We have clear vision about the strategy as to how Karachi should be brought at par with other mega cities of the world in terms of infrastructural development to ensure all basic amenities to foreign investors and tradesmen,” he said.
He said the hectic efforts made by the current leadership were solving people’s problems and making the lifestyle of its citizens convenient.
“Our efforts are bearing fruit which is evident from the fact that we are at present consulting various foreign investors about investments as huge as billions of dollars and no day goes by without a visit of Karachi by foreign trade delegations,” he said.
Syed Mustafa Kamal said the city government was so keen for foreign investment that it was taking steps that would reduce the travel time between SITE area to airport as less as 13 minutes, which was about 100 minutes earlier.
He said projects like one of largest IT Towers and elevated expressway would soon be launched.
“Some 10,000 visa call centres will be established under one roof of the US$ 200-IT Tower and 2020 city master plan would bring Karachi among the planned cities of the world,” he said.
