World Bank lists Pakistan above China, Russia and India for doing business

[Kompromat]

World Bank lists Pakistan above China, Russia and India for doing business:Senator Waqar

ISLAMABAD, May 20 (APP): Federal Minister for Privatization, Senator Waqar Ahmad Khan has urged the investors from 30 different countries to invest in Pakistan in different areas of economy as the World Bank has also listed Pakistan above China, Russia and India for ease of doing business. He also urged the investors to invest in areas such as energy, power, infrastructure housing, oil and gas exploration, milk and milk based products, live stock and Halal food products, says a message received from Kuala Lumpur here on Thursday.

The Minister for Privatization who gave a detailed presentation on the theme, “Pakistan: The Land of Opportunities”, to business delegates in the Plenary session at the 6th World Islamic Economic Summit held in Kuala Lumpur.

Senator Waqar said that owing to the sound and stable economic policies of the democratic government of Pakistan, the country had been placed at 87th position by the World Bank with regard to ease of doing business, whereas regional countries such as China, Russia and India ranked below Pakistan.

He said that currently Pakistan was ideal place for investment as it offered quite high rates of return on investments ranging from 20% to 30%.

The country enjoyed a stable political government with sound and long-term prudent economic and fiscal policies, a growing GDP, sizable foreign exchange reserves of over US$16 billion.

Pakistan also had put in place an Alternate Dispute Resolution Mechanism for speedy resolution of business and investment-related disputes.

Given such attractive investment-friendly incentives, presently more than 700 foreign companies were successfully operating their business in Pakistan, he added.

Pakistan, he said offers very attractive incentives to the investors, such as 24-hour security, creation of special economic zones with tax breaks, durable monetary policies and one-window operation with regard to starting businesses in the country.

The Ministers from Syria, Indonesia, Iran and Senegal also addressed the plenary session.

On the sidelines of the Forum, Senator Waqar Ahmad Khan also held a bilateral meeting with Deputy Prime Minister of Kazakistan Mr. Aset Issekeshevy. Both Ministers agreed for the need to expand bilateral relations for mutual benefit of both the countries.

The Minister also visited the custom-made Pakistan Pavilion at the 6th world Islamic Economic Exhibition.

He appreciated the display and hospitality of Pakistani mangoes.

He also took keen interest at the traditional ladies garments, leather products and pottery displayed there.

Earlier, Senator Waqar Ahmad attended the opening session of the 6th World Islamic Economic Forum (WIFE).

The Prime Minister of Malaysia Dato Mohd Najib Bin Tun Razzaq declared the forum open in a ceremony, which was attended by more than 2500 delegates from over thirty countries.

Leaders from more than half a dozen Islamic countries are attending the two-day annual Forum on 19-20 May in Kuala


Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - World Bank lists Pakistan above China, Russia and India for doing business:Senator Waqar

 

[TATA]

World Bank lists Pakistan above China, Russia and India for doing business:Senator Waqar

ISLAMABAD, May 20 (APP): Federal Minister for Privatization, Senator Waqar Ahmad Khan has urged the investors from 30 different countries to invest in Pakistan in different areas of economy as the World Bank has also listed Pakistan above China, Russia and India for ease of doing business. He also urged the investors to invest in areas such as energy, power, infrastructure housing, oil and gas exploration, milk and milk based products, live stock and Halal food products, says a message received from Kuala Lumpur here on Thursday.

The Minister for Privatization who gave a detailed presentation on the theme, “Pakistan: The Land of Opportunities”, to business delegates in the Plenary session at the 6th World Islamic Economic Summit held in Kuala Lumpur.

Senator Waqar said that owing to the sound and stable economic policies of the democratic government of Pakistan, the country had been placed at 87th position by the World Bank with regard to ease of doing business, whereas regional countries such as China, Russia and India ranked below Pakistan.

He said that currently Pakistan was ideal place for investment as it offered quite high rates of return on investments ranging from 20% to 30%.

The country enjoyed a stable political government with sound and long-term prudent economic and fiscal policies, a growing GDP, sizable foreign exchange reserves of over US$16 billion.

Pakistan also had put in place an Alternate Dispute Resolution Mechanism for speedy resolution of business and investment-related disputes.

Given such attractive investment-friendly incentives, presently more than 700 foreign companies were successfully operating their business in Pakistan, he added.

Pakistan, he said offers very attractive incentives to the investors, such as 24-hour security, creation of special economic zones with tax breaks, durable monetary policies and one-window operation with regard to starting businesses in the country.

The Ministers from Syria, Indonesia, Iran and Senegal also addressed the plenary session.

On the sidelines of the Forum, Senator Waqar Ahmad Khan also held a bilateral meeting with Deputy Prime Minister of Kazakistan Mr. Aset Issekeshevy. Both Ministers agreed for the need to expand bilateral relations for mutual benefit of both the countries.

The Minister also visited the custom-made Pakistan Pavilion at the 6th world Islamic Economic Exhibition.

He appreciated the display and hospitality of Pakistani mangoes.

He also took keen interest at the traditional ladies garments, leather products and pottery displayed there.

Earlier, Senator Waqar Ahmad attended the opening session of the 6th World Islamic Economic Forum (WIFE).

The Prime Minister of Malaysia Dato Mohd Najib Bin Tun Razzaq declared the forum open in a ceremony, which was attended by more than 2500 delegates from over thirty countries.

Leaders from more than half a dozen Islamic countries are attending the two-day annual Forum on 19-20 May in Kuala


Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - World Bank lists Pakistan above China, Russia and India for doing business:Senator Waqar

The African states like Namibia, Rwanda etc. are ranked 20 places above the Pakistan in the same ranking.

But, this doesn't mean that world is rushing in African countries like Namibia and Rawanda to invest.

This means this ranking is useless.

What we need at Pakistan is the end of terrorist and extremist, stability and peace. Then world will rush to invest in Pakistan.

Best of luck for that.

 

[Kompromat]

^ Post that List

 

[TATA]

^ Post that List

Yes why not.

here we go>>


Economy Ease of Doing Business Rank Starting a Business Dealing with Construction Permits Employing Workers Registering Property Getting Credit Protecting Investors Paying Taxes Trading Across Borders Enforcing Contracts Closing a Business
Singapore 1 4 2 1 16 4 2 5 1 13 2
New Zealand 2 1 5 15 3 4 1 9 26 10 17
Hong Kong, China 3 18 1 6 75 4 3 3 2 3 13
United States 4 8 25 1 12 4 5 61 18 8 15
United Kingdom 5 16 16 35 23 2 10 16 16 23 9
Denmark 6 28 10 9 47 15 27 13 6 28 7
Ireland 7 9 30 27 79 15 5 6 21 37 6
Canada 8 2 29 17 35 30 5 28 38 58 4
Australia 9 3 62 1 34 4 57 47 27 16 14
Norway 10 35 65 114 8 43 20 17 9 4 3
Georgia 11 5 7 9 2 30 41 64 30 41 95
Thailand 12 55 13 52 6 71 12 88 12 24 48
Saudi Arabia 13 13 33 73 1 61 16 7 23 140 60
Iceland 14 33 31 56 13 30 73 31 73 2 16
Japan 15 91 45 40 54 15 16 123 17 20 1
Finland 16 30 47 132 27 30 57 71 4 8 5
Mauritius 17 10 42 36 66 87 12 12 19 66 73
Sweden 18 43 19 117 20 71 57 42 7 51 18
Korea, Rep. 19 53 23 150 71 15 73 49 8 5 12
Bahrain 20 63 14 13 22 87 57 13 32 117 26
Switzerland 21 71 36 16 15 15 165 21 39 29 38
Belgium 22 31 46 48 167 43 16 73 43 21 8
Malaysia 23 88 109 61 86 1 4 24 35 59 57
Estonia 24 37 20 161 13 43 57 38 3 49 61
Germany 25 84 18 158 57 15 93 71 14 7 35
Lithuania 26 99 64 119 4 43 93 51 28 17 36
Latvia 27 51 78 128 58 4 57 45 22 15 88
Austria 28 122 55 60 39 15 132 102 24 11 20
Israel 29 34 120 90 147 4 5 83 11 99 41
Netherlands 30 70 104 123 29 43 109 33 13 30 10
France 31 22 17 155 159 43 73 59 25 6 42
Macedonia, FYR 32 6 138 58 63 43 20 26 62 64 115
United Arab Emirates 33 44 25 50 7 71 119 4 5 134 143
South Africa 34 67 52 102 90 2 10 23 148 85 76
Puerto Rico 35 15 149 22 124 30 16 104 105 97 30
St. Lucia 36 36 12 20 76 87 27 40 103 165 47
Colombia 37 74 32 63 51 61 5 115 97 152 32
Azerbaijan 38 17 158 33 9 15 20 108 177 26 84
Qatar 39 68 28 68 55 135 93 2 41 95 33
Cyprus 40 25 77 93 64 71 93 37 15 107 21
Kyrgyz Republic 41 14 40 47 19 15 12 156 154 54 140
Slovak Republic 42 66 56 81 11 15 109 119 113 61 39
Armenia 43 21 72 62 5 43 93 153 102 62 49
Bulgaria 44 50 119 53 56 4 41 95 106 87 78
Botswana 45 83 123 71 44 43 41 18 150 79 27
Taiwan, China 46 29 97 153 30 71 73 92 33 90 11
Hungary 47 39 87 77 61 30 119 122 70 14 58
Portugal 48 60 112 171 52 87 41 80 19 25 22
Chile 49 69 67 72 42 71 41 45 56 69 114
Antigua and Barbuda 50 59 21 54 103 113 27 128 53 71 64
Mexico 51 90 37 136 99 61 41 106 74 81 24
Tonga 52 32 35 11 121 113 109 30 51 55 103
Slovenia 53 26 59 162 108 87 20 84 84 60 40
Fiji 54 104 58 31 43 43 41 81 116 65 122
Romania 55 42 91 113 92 15 41 149 46 55 91
Peru 56 112 117 112 28 15 20 86 91 114 99
Samoa 57 20 48 18 81 127 27 67 88 83 139
Belarus 58 7 44 32 10 113 109 183 129 12 74
Vanuatu 59 110 22 75 104 71 73 20 141 73 52
Mongolia 60 78 103 44 25 71 27 69 155 36 110
Kuwait 61 137 81 24 89 87 27 11 109 113 69
Spain 62 146 53 157 48 43 93 78 59 52 19
Kazakhstan 63 82 143 38 31 43 57 52 182 34 54
Luxembourg 64 72 43 170 131 113 119 15 31 1 50
Oman 65 62 130 21 20 127 93 8 123 106 66
Namibia 66 123 38 43 134 15 73 97 151 41 55
Rwanda 67 11 90 30 38 61 27 59 170 40 183
Bahamas, the 68 61 100 42 149 71 109 42 37 120 31
Tunisia 69 47 107 108 59 87 73 118 40 77 34
St. Vincent and the Grenadines 70 45 3 57 137 87 27 62 52 102 183
Montenegro 71 85 160 46 131 43 27 145 47 133 44
Poland 72 117 163 76 88 15 41 151 42 75 85
Turkey 73 56 133 145 36 71 57 75 67 27 121
Czech Republic 74 113 76 25 62 43 93 121 53 82 116
Jamaica 75 19 49 39 122 87 73 174 104 128 23
St. Kitts and Nevis 76 86 8 19 153 87 27 100 53 114 183
Panama 77 27 68 177 65 30 109 173 10 119 75
Italy 78 75 85 99 98 87 57 136 50 156 29
Kiribati 79 119 71 29 66 135 41 10 77 80 183
Belize 80 147 4 23 128 87 119 57 117 168 25
Trinidad and Tobago 81 65 82 45 170 30 20 56 49 169 183
Albania 82 46 173 105 70 15 15 138 66 91 183
Dominica 83 38 27 80 113 71 27 68 86 167 183
El Salvador 84 121 128 106 46 43 119 134 61 50 81
Pakistan 85 63 105 146 119 61 27 143 78 158 56
Dominican Republic 86 107 92 97 112 71 57 70 36 86 146
Maldives 87 49 9 41 183 150 73 1 126 92 126
Serbia 88 73 174 94 105 4 73 136 69 97 102
China 89 151 180 140 32 61 93 125 44 18 65

Rankings - Doing Business - The World Bank Group

 

[KS]

Good for u.....but keep a cautiuous watch on the degree of privatization taking place as this mayb harmful for ur country in the long run or during some economic crisis like the one in US.

 

[Jade]

World Bank lists Pakistan above China, Russia and India for doing business:Senator Waqar

ISLAMABAD, May 20 (APP): Federal Minister for Privatization, Senator Waqar Ahmad Khan has urged the investors from 30 different countries to invest in Pakistan in different areas of economy as the World Bank has also listed Pakistan above China, Russia and India for ease of doing business. He also urged the investors to invest in areas such as energy, power, infrastructure housing, oil and gas exploration, milk and milk based products, live stock and Halal food products, says a message received from Kuala Lumpur here on Thursday.

The Minister for Privatization who gave a detailed presentation on the theme, “Pakistan: The Land of Opportunities”, to business delegates in the Plenary session at the 6th World Islamic Economic Summit held in Kuala Lumpur.

Senator Waqar said that owing to the sound and stable economic policies of the democratic government of Pakistan, the country had been placed at 87th position by the World Bank with regard to ease of doing business, whereas regional countries such as China, Russia and India ranked below Pakistan.

He said that currently Pakistan was ideal place for investment as it offered quite high rates of return on investments ranging from 20% to 30%.

The country enjoyed a stable political government with sound and long-term prudent economic and fiscal policies, a growing GDP, sizable foreign exchange reserves of over US$16 billion.

Pakistan also had put in place an Alternate Dispute Resolution Mechanism for speedy resolution of business and investment-related disputes.

Given such attractive investment-friendly incentives, presently more than 700 foreign companies were successfully operating their business in Pakistan, he added.

Pakistan, he said offers very attractive incentives to the investors, such as 24-hour security, creation of special economic zones with tax breaks, durable monetary policies and one-window operation with regard to starting businesses in the country.

The Ministers from Syria, Indonesia, Iran and Senegal also addressed the plenary session.

On the sidelines of the Forum, Senator Waqar Ahmad Khan also held a bilateral meeting with Deputy Prime Minister of Kazakistan Mr. Aset Issekeshevy. Both Ministers agreed for the need to expand bilateral relations for mutual benefit of both the countries.

The Minister also visited the custom-made Pakistan Pavilion at the 6th world Islamic Economic Exhibition.

He appreciated the display and hospitality of Pakistani mangoes.

He also took keen interest at the traditional ladies garments, leather products and pottery displayed there.

Earlier, Senator Waqar Ahmad attended the opening session of the 6th World Islamic Economic Forum (WIFE).

The Prime Minister of Malaysia Dato Mohd Najib Bin Tun Razzaq declared the forum open in a ceremony, which was attended by more than 2500 delegates from over thirty countries.

Leaders from more than half a dozen Islamic countries are attending the two-day annual Forum on 19-20 May in Kuala


Associated Press Of Pakistan ( Pakistan's Premier NEWS Agency ) - World Bank lists Pakistan above China, Russia and India for doing business:Senator Waqar

There is a clear difference between ease of doing business and businesses investing in a particular country. Investments are functions of political stability, macroeconomic factors, size of the markets, strength of financial intermediaries and much more. It is not to say that ease of doing business doesn’t have effects on Investments, it has. However, there are much more important factors that influence investments more

 

[xenia]

There is a clear difference between ease of doing business and businesses investing in a particular country. Investments are functions of political stability, macroeconomic factors, size of the markets, strength of financial intermediaries and much more. It is not to say that ease of doing business doesn’t have effects on Investments, it has. However, there are much more important factors that influence investments more

isnt investment a function of returns as well n isnt that the most imp variable while considering projects worth?

He said that currently Pakistan was ideal place for investment as it offered quite high rates of return on investments ranging from 20% to 30%.

political stability,

The country enjoyed a stable political government

macroeconomic factors

with sound and long-term prudent economic and fiscal policies, a growing GDP, sizable foreign exchange reserves of over US$16 billion

Pakistan also had put in place an Alternate Dispute Resolution Mechanism for speedy resolution of business and investment-related disputes..

size of the markets

He also urged the investors to invest in areas such as energy, power, infrastructure housing, oil and gas exploration, milk and milk based products, live stock and Halal food products

strength of financial intermediaries and much more

financial intermediaries r strong too!
i wish u had read the article

 

[Jade]

isnt investment a function of returns as well n isnt that the most imp variable while considering projects worth?

financial intermediaries r strong too!
i wish u had read the article

If what you quote is true, why is the GDP growth rate of Pakistan so low. GDP growth rate, I feel, account for most factor I listed in some way or other. Moreover, You are missing a vital point here; political stability, macroeconomic factors, size of the markets, and strength of financial intermediaries are all relative. An investor would like to invest his money where all the above factors are relatively better.

 

[xenia]

If what you quote is true, why is the GDP growth rate of Pakistan so low. GDP growth rate, I feel, account for most factor I listed in some way or other. Moreover, You are missing a vital point here; political stability, macroeconomic factors, size of the markets, and strength of financial intermediaries are all relative. An investor would like to invest his money where all the above factors are relatively better.

1 thing, i quoted all things from the given article...not my assumptions..GDP is low not because of a single reason...we have WOT, falling FDI lately, energy crisis, etc.
the investor, i presume, wants to invest where there is market potential n the sectors listed in the article have huge potential to grow..regarding instability, ofcourse its important but when the deal is struck the investors arent naive that they let go their stakes easily..they account for them n thats what they should considering the situation..

 

[Hyde]

If what you quote is true, why is the GDP growth rate of Pakistan so low. GDP growth rate, I feel, account for most factor I listed in some way or other. Moreover, You are missing a vital point here; political stability, macroeconomic factors, size of the markets, and strength of financial intermediaries are all relative. An investor would like to invest his money where all the above factors are relatively better.

one of the key factor why our GDP growth is low is that we have energy crisis in our country. If the investor wants to set up an industry in Pakistan he is not guaranteed if he will be getting sufficient electricity to run its industry or not. Industrial sector too facing loadshedding for hours per day that is destroying its business and even many local industries have and have been planning to shift their businesses to neighbour countries such as Bangladesh.

Once we have sorted out energy crisis you will see sudden increase in GDP growth as well

 

[Jade]

1 thing, i quoted all things from the given article...not my assumptions..GDP is low not because of a single reason...we have WOT, falling FDI lately, energy crisis, etc.
the investor, i presume, wants to invest where there is market potential n the sectors listed in the article have huge potential to grow..regarding instability, ofcourse its important but when the deal is struck the investors arent naive that they let go their stakes easily..they account for them n thats what they should considering the situation..

First of all, remember that the post is the gist of a presentation of Federal Minister for Privatization to a Investor forum. He is sure to exaggerate the his counties investment climate.

Moreover, WOT is sign of political instability. In spite of attractiveness of certain sectors in Pakistan, Investors always take into account the risk while evaluating the returns. More political instability mean more risk.

 

[Jade]

one of the key factor why our GDP growth is low is that we have energy crisis in our country. If the investor wants to set up an industry in Pakistan he is not guaranteed if he will be getting sufficient electricity to run its industry or not. Industrial sector too facing loadshedding for hours per day that is destroying its business and even many local industries have and have been planning to shift their businesses to neighbour countries such as Bangladesh.

Once we have sorted out energy crisis you will see sudden increase in GDP growth as well

That is what I am saying: Investors always take into account the risk while evaluating the returns

 

[farhan_9909]

good

foriegn reseves already rises to 15bn

 

[Peregrine]

Hi
what makes Pakistan a different case than India, China and other developing states is that in Pakistan there is no foreign investment at the level it is there in other states, So Pakistan has a huge potential to erect the economy. if Pakistan can get rid of problems like militancy & energy crises then Pakistan is a heaven for investment given the advantage of geographical proximity to China, CAR's, India, and above all Iran & UAE

 

[TATA]

Hi
what makes Pakistan a different case than India, China and other developing states is that in Pakistan there is no foreign investment at the level it is there in other states, So Pakistan has a huge potential to erect the economy. if Pakistan can get rid of problems like militancy & energy crises then Pakistan is a heaven for investment given the advantage of geographical proximity to China, CAR's, India, and above all Iran & UAE

Yes, you are right.

But, there are something more needed for becoming heaven for investment.

1. Infrastructure

a.) Good and well connected Expressways/Highways network
b.) Efficient and well connected Rail network
c.) Airports
d.) Sea ports (Well connected with road and rail network wih whole county)
e.) Reliable and Uninterrupted Power supply

2. Law and Order

3. Peace and stability

4. Clarity and stability of govt policies (govt. policies should not drastically change with change of govt., like PPP to PML or Army regime)

5. Stable currency

6. Availability of raw material at attractive prices

7. Good supply of well trained and skilled man power at attractive prices

8. Attractive Tax stature and incentives etc.