ISLAMABAD, March 17: The US businessmen on Wednesday linked investment to early implementation of intellectual property rights (IPRs) laws, improving law and order situation.
Speaking at a joint press conference with senior executives of some of the visiting US businessmen here on Wednesday, Managing Director for South Asia Affairs of US Chambers of Commerce and Industry, Dr. Herbert J. Davis said that US investors were interested in investing more in various areas including IT, telecom, energy, health care and contract manufacturing.
He said the US businessmen, however, said law and order problem, non-implementation of IPRs laws and political instability were some of the hurdles in the way of investment.
Replying to a question, he said that improvement in bilateral relation with India would further boost the flow of foreign direct investment in Pakistan. He proposed to the government to portray a positive image of Pakistan abroad particularly in the US through a massive media campaign to attract foreign investors.
To a question, he said that Pakistan had formally asked for softening of travel advisory. He admitted that the travel advisory was discouraging the US investors and citizens from visiting Pakistan.
Mr. Davis said that the US chamber was in close contact with the US authorities to soften the procedures for Pakistani businessmen in getting business visas.
He said that the 15-member trade delegation was currently visiting Pakistan to identify areas for investment. He said that the bilateral trade between Pakistan and US was very low, which he said needed to be enhanced further.
"This is our first delegation. We will create a positive image of Pakistan in the US," he remarked. Speaking on the occasion, the president and CEO, Ledtronics, Inc, Pervaiz Lodhie said that Pakistan manufacturers should focus on producing quality products to compete with those of others in international markets.
He said that government should provide more facilities to attract foreign investment. He said Pakistan was a suitable place for investment. The chairman and CEO, Touchstone communication, Tom Slone said that the US businessmen would take up the visa issue with the relevant authorities for making it easier for businessmen.
He said that Pakistan was a safe place for foreign investment. According to him there was a great potential for investment in the telecommunication and IT sectors in Pakistan.
The chairman, Netsol Technologies Inc., Najeeb Ghauri said, "we believed that Pakistan has immense potential for foreign investment. He said the improvement in relation with neighbouring countries would further encourage foreign investors to invest in Pakistan.