ISLAMABAD - Pakistan is going to organise International Investment Conference on November 4 and 5 in Islamabad to give an opportunity to foreign investors to explore investment opportunities in the country.

“The Board of Investment will organize Pakistan Investment Conference on November 4 and 5, as it did in the previous year,” said Dr Miftah Ismail, Chairman Board of Investment while addressing a press conference here. Prime Minister Nawaz Sharif will inaugurate the conference, which will also be addressed by the finance, petroleum, water and power and commerce ministers, he maintained. Representatives of the provincial governments would also attend the meeting.

Talking about the participants of the conference, Dr Miftah said as many as 338 delegates including 215 foreigners of 29 countries have confirmed their participation in the two days conference. The foreign delegates would come from China, Hong Kong, Bahrain, United States, United Kingdom, Kuwait, Saudi Arabia, Qatar, Turkey and others, he added.

He hoped that foreign investors would invest in Pakistan, as country’s law and order and electricity situation have improved that were main hurdles behind attracting investment. “The government has initiated several power projects including LNG, new power plants, coal, wind and water. Therefore, energy crisis would be resolved by the end of 2017,” he said.

Chairman Board of Investment admitted that investment in Pakistan is not on the higher side. However, the investment to GDP ratio has enhanced to 15.1 percent in last financial year 2014-2015 as against 13 percent of June 2013. Overall, volume of investment increased to $38 billion in 2014-2015 as against $35 billion of the preceding year. Dr Miftah vowed to take investment to GDP to 20 percent by 2018 from existing 15.1 percent. “The investment to GDP of 20 percent would still be less than that of our neighboring countries like India, Bangladesh and Sri Lanka where it is more than 28 percent”, he added.

The level of investment would increase with China-Pakistan Economic Corridor (CPEC), he said. He also admitted his failure in improving ‘Doing Business’ in Pakistan. Pakistan has recently dropped on the World Bank’s Doing Business 2016 ranking.

He said China-Pakistan Economic Corridor (CPEC) would also create massive employment opportunities in Khyber Pakhtunkhwa. Meanwhile, in KP and Balochistan, the government has offered a number of special incentives to encourage investment in these provinces. Miftah Ismail also informed that Federally Administrative Tribal Areas (FATA) have been exempted from all types of taxes to promote investment in that area.