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Pakistan Can Become an Export Powerhouse if It Uses Tech & Innovation: World Bank

Discussion in 'Pakistan Economy' started by SherDil, Dec 15, 2016.

  1. SherDil

    SherDil FULL MEMBER

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    The latest World Bank report claims that South Asia has the potential to become the fastest growing exporting region of the world.



    According to the report, economic competitiveness can be improved if productivity of firms in countries like Pakistan and rest of the South Asia aspires to a higher standard.

    To do so, the countries need to adopt policies which focus on improving:

    • Business environment.
    • Connect to global value chains (GVC).
    • Leverage clusters and strengthen firm capabilities.
    The report argues that instead of focusing on constraints and challenges, the countries should pay more attention to less-researched areas such as:

    • Role of cities and clusters.
    • Global value chains.
    • Firms’ abilities to innovate and efficiently use resources, including technology.
    International business communities looking to invest here are eyeing the CPEC. Apart from that, Pakistan has also seen great deal of interest from foreign companies. To quote an example, we have Sialkot, famous for its production of soccer balls which were used at the highest level – FIFA World Cup. Pakistan needs more examples of this sort.

    Illango Patchamuthu, World Bank’s Country Director for Pakistan, said that the potential is there but it needs to be channeled properly. He added:

    “Pakistan, in particular, has important strategic endowments and development potential.

    Located at the crossroads of South Asia, Central Asia, China and the Middle East, Pakistan is at the heart of a regional market with a vast population, large and diverse resources, and untapped potential for trade.”

    According to the report, productivity can significantly benefit if the firms are located in areas where there is a wide diversity of workers, suppliers and customers.

    Lead Economist and one of the report’s co-authors, Vincent Palmade, argues:

    “The region has a significant untapped potential in raising productivity through development of urban ecosystems providing thick markets for skilled labor, large tracts of industrial land, and world class logistics.”

    World Bank Report Assessments
    With the help of right productivity-enhancing policies, the countries residing in the South Asian region stand a chance to triple their share in the global markets of electronics and motor vehicles.

    Excluding textile and leather, significant market share in apparel can be doubled by 2030 in the region.

    The progress will eventually help all the countries, especially Pakistan, in improving their business environment. The report also states that, “Pakistan should also leverage the benefits of its cities clusters by actively mitigating congestion forces and facilitating access to industrial land.”


    Via: https://propakistani.pk/2016/12/15/...d-bank/?utm_source=all_users&utm_medium=notif
     
  2. maximuswarrior

    maximuswarrior ELITE MEMBER

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    Productivity-enhancing can primarily be achieved with China's assistance. China is a master of production output. It has built its entire economy around this principle. Pakistan must engage China's help in this regard.
     
  3. touela

    touela FULL MEMBER

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    I would like to add, that if Pakistan wants to have a fair chance to compete on the global plane, the production facilities must be state of the art. This means robots ( a lot of them) and all the new technology, you can put in the factories. That's the way China is also going now. And yes, a normal factory could maybe employe upto thousands of ppl, and a modern factory maybe a thousand ppl, but the output would be greater, better and cheaper.
     
  4. LeGenD

    LeGenD ELITE MEMBER

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    Not just China but we should seek insight from other manufacturing giants as well such as Germany, France, Japan, US, UK and Russia. A large number of manufacturing firms in China are foreign.

    Even our domestic industry is not bad. We can develop products of higher quality than China.

    Please understand that everything made in China is not high quality. Remember those failed locomotives?
     
  5. Ghazwa e Hind

    Ghazwa e Hind BANNED

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    Our elitist class have resources and every know-how for starting new businesses but they do not take care of these things. They invest in only those sectors which help them to double the profit in least time.

    I cannot install units to increase exports. My banks will never support me either. So its not my headache. My priority is to find a job of 20-25k and start a practical life.
     
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  6. SBD-3

    SBD-3 ELITE MEMBER

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    For tech and innovation you need to spend continously on research and development which implies the corporate sector has ample capacity as well as funding. The capital formation is the thing we lack for now since the investment flows predominantly go into unproductive sectors like real estate and government bonds.