SIALKOT: Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA) Chairman Arshad Latif Butt chaired an information session on USAID Investment Promotion Activity (IPA) held at PSGMEA Auditorium Sialkot here on Friday.
Addressing the participants, PSGMEA Chairman Arshad Latif Butt said the main objective of the meeting was to inform PSGMEA members about the recently launched “Pakistan Investment Pipeline Program” through USAID’s investment promotion activity.
Chairman PSGMEA said that under the USAID IPA program, it has created a number of investment opportunities in Pakistan, which is ready to be linked with external sources of investment.
He said this flagship program would identify specific local companies that had the potential to do international business through matchmaking with foreign investors to stimulate foreign direct investment in Pakistan.
Arshad Latif Butt said that interested members who were registered in the USAID program should understand and accept the investment proposal, expand the scope of business activities and take full advantage of foreign investment by taking business negotiations seriously.
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The PSGMEA Chairman said that in the current situation where Pakistan is facing serious economic challenges, there is an urgent need to prioritize local investment while foreign direct investment should also be given attention.
“We have high hopes for this program and wish the best to the USAID IPA team who are here to show us how our local companies can register to take full advantage of this unique opportunity,” he added.
Speaking on the occasion, US-Pakistan Trade and Investment Trainer Saran Ahmed said during the meeting that USAID’s Investment Promotion Activity (IPA) is a five-year project that will help strengthen Pakistan’s business environment and increase the capacity of Pakistani institutions to promote investment, improve and expand the ecosystem foreign direct investment (FDI).
He explained that the project would also benefit the removal of barriers to investment and trade by improving the overall investment climate in government regulations.
He said one of the main objectives of the IPA was to facilitate FDI mobilization of Pakistani enterprises with foreign investors.
He said that the two sides are trying to strengthen economic partnership on issues that include trade, investment, energy, climate change, health, education, agriculture, technology and public exchanges at the country level, while for local businessmen it is the best time to invest and promote our products and services in surgical instruments, sporting goods, textiles and cotton, iron steel and leather goods and services.
He added that entrepreneurs will be provided with the best facilities for setting up stalls on foreign tours or industrial exhibitions, along with the best business advisors available for guidance or education.
The awareness raising session was attended by the business community including Trade Development Authority of Pakistan (TDAP) Director General Khalid Rasool, Exhibition Committee Chairman Arif Hussain, PSGMEA Secretary General Mohsin Masood, USAID Trainers Saran Ahmed, Hafiz Saram and Coordinator Wajih.
