ISLAMABAD: On the sidelines of the 54th annual meeting of the World Economic Forum (WEF) being held in Switzerland, caretaker Prime Minister Anwaarul Haq Kakar will invite international community to invest in Pakistan under the Special Investment Facilitation Council (SIFC) initiative.

The prime minister arrived in Switzerland on Sunday to participate in the Davos event, which will continue till January 19.

He was welcomed in Zurich by Pakistan’s permanent representative to Geneva, Bilal Ahmed, and Swiss Ambassador Amir Shaukat as well as other senior diplomatic officials.

According to a Foreign Office spokesperson, the prime minister will deliver a keynote address on the theme “Trade tech’s trillion dollar promise”.

PM Kakar will also attend three key thematic events — “Preventing an era of global conflicts”, “Restoring faith in the global system”, and “Preventing economic fractures”.

The FO spokesperson said PM Kakar would also hold meetings with government and business leaders on the sidelines of the event as well as lead an “Invest in Pakistan” event.

Pakistan used last year’s WEF summit to spotlight the immense damages inflicted by the disastrous 2022 floods and seek international economic assistance from world powers.

A source in the PM Office told Dawn that PM Kakar would invite world states to take benefit of investment in Pakistan, particularly when a conducive environment and facilities are being provided to the investors under the SIFC.

According to the WEF, the annual meeting of the forum, with the participation of over 300 public figures including more than 60 heads of state and government, will provide a crucial space to focus on the fundamental principles driving trust, including transparency, consistency, and accountability among leaders.

It said the goal was to help connect the dots in an increasingly complex environment and provide foresight by introducing the latest advances in science, industry and society.

The theme of this year’s meeting is “Rebuilding Trust”.

The WEF describes itself as an international organisation for public-private cooperation. It engages the foremost political, business, cultural, and other leaders of society to shape global, regional, and industry agendas.

The forum was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.

Published in Dawn, January 16th, 2024