ISLAMABAD, Aug 20: Prime Minister Shaukat Aziz on Saturday said that Pakistan had turned into a hub of foreign investment owing to the government’s privatisation and investor-friendly policies. Inaugurating a Singaporean banking firm’s branch ‘NIB’ here, he said it was an important day in the country’s banking history.

He said that road, railways and ports systems would be streamlined with the financial and technical support which the World Bank had promised to provide to the country. Mr Aziz said Singapore’s leadership had assured Pakistan of making investment in the country.

“Under our ‘East Asia Vision’ our first priority is the establishment of better trade relations with Thailand, Japan, China and Singapore,” he said.

The premier pointed out that the strategic location of Pakistan had always been important to investors who had now been coming to Pakistan because of the government’s attractive policies.

He said affective reforms had been introduced in banking, leasing and insurance sectors and the government had ensured implementation of these reforms.

The Singaporean firm will invest $60 million in the country, he said and added that money security guarantee was the requirement of foreign investors which the government had provided to them through its foreign policy.

He said the government had enforced phased reforms fruit of which had started accruing and added that the Asean countries would also be approached to invest in the country.

Earlier, executive director of M/s Domestic Holding, Francis Rozario, said his company had decided to invest in Pakistan.