KARACHI, July 30: The private sector has decided to hold a multilateral conference on the sidelines of Expo-2011 being held on October 19-20 to attract foreign investment.

This was stated by Abdul Kader Jaffer, president, Pakistan-Japan Business Forum and leader of the group which has taken the initiative to attract investment at a press conference here on Saturday.

Chairman, Board of Investment (BoI), Saleem H Mandviwalla, heads of Punjab and Sindh Boards of Investments (BoIs) and Director General of Trade Development Authority of Pakistan (TDAP) and heads of various forums and councils representing European, Korean, Malaysian and other Asian countries were also present.

Mr Jaffer said it would be a public-private sector joint initiative for holding such a conference on investment and trade but would be spearheaded by bilateral forums of 11 countries.

The Expo 2011, he said, would be inaugurated by the Prime Minister Yousuf Raza Gilani and being a mega event where over 10,000 Pakistani manufacturers would be displaying their products it will give an opportunity to prospective foreign investors to have a direct look at the displayed products.

He further said that the conference would be held on Oct 20 and around 100 foreign investors are expected to attend.

Abdul Kader Jaffer, who looked quite confident about the success of the conference, said that an excellent programme has been arranged for foreign visitors and details would be disclosed soon.

He explained that the conference would be different as it was being arranged by the private sector and devolves around five focused working groups rather than lengthy speeches.

He further said that discussion would explore all dimensions and possibilities of investment in the field of engineering, infrastructure, agriculture and dairy, mines and minerals and pharmaceuticals.

This will give potential foreign investors an opportunity, he said to interact simultaneously with experienced Pakistani private sector and receive guidance from senior government officials who would be attending the conference.

Pakistan being the fifth largest populated country in the world with about 180 million people, 60 per cent of whom are under the age of 30, Mr Jaffer said has large untapped natural resources with increasing needs of the growing population.

He explained that this creates ideal situation strong demand for goods and services.

The conference, he said, intends to bring both together and provide a platform for joint venture, technical know-how, diversification, relocation, public private partnership, etc.

The PJBF chairman said that Pakistan is not only a profitable destination for investors but a gateway to Central Asia and will provide an unmitigated opportunity to investors for their investments bright future.