Daily Times

Chairman Pakistan Sports Goods Manufacturers and Exporters Association (PSGMEA) Arshad Latif Butt chaired an awareness session about USAID Investment Promotion Activity (IPA) held here on Friday at PSGMEA Auditorium Sialkot.

Addressing the participants, Chairman PSGMEA Arshad Latif Butt said that the main objective of the meeting was to inform the members of PSGMEA about the recently launched ‘Pakistan Investment Pipeline Program’ through the USAID Investment Promotion Activity.

Chairman PSGMEA said that under the program, USAID IPA had created a pipeline of investment opportunities in Pakistan which was ready to be connected with external sources of investment.

He said that this flagship program will 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 the interested members who were registered under the USAID program should understand and adopt the investment proposal, expand the scope of business activities and take full advantage of foreign investment by being serious about trade negotiations.

Chairman PSGMEA said that in the current situation where Pakistan was facing severe economic challenges, there was an urgent need to prioritize local investment, along with this attention should also be given to foreign direct investment.

“We have high hopes with this program and best wishes to the USAID IPA team who are here to show us how our local companies can register themselves to take full advantage of this unique opportunity”, he added.

On the occasion, US-Pakistan Trade and Investment Trainer, Saran Ahmed gave a briefing during the meeting and said that the USAID Investment Promotion Activity (IPA) was a five-year project which would helping to strengthen Pakistan’s business environment, enhance the capacity of Pakistani institutions focused on investment promotion, improve and expand the Foreign Direct Investment (FDI) ecosystem.

He explained that the project would also be beneficial to remove barriers to investment and trade by improving the overall investment climate in government regulations.

He said that one of the main objectives of IPA was to facilitate FDI mobilization of Pakistani enterprises with foreign investors.

He said that the two sides are trying to increase economic partnership on issues that include trade, investment, energy, climate change, health, education, agriculture, technology and public exchanges at the country level, while it was the best time for local traders to invest and promote our Surgical Instruments, Sports Goods, Textile & Cotton, Iron Steel and Leather Goods products and services in USA.

He added that the business people will be provided with the best facilities for setting up stalls on foreign trips or industrial exhibitions, along with the best business consultants will be available for guidance or awareness.