Islamabad: Addressing the Pakistani community on National Day Flag Hoisting ceremony, Pakistan’s High Commissioner in Singapore Syed Hasan Javed said that recent advances in IT and Telecom Apps, Genome and bio-technology, Medical sciences, Defence and Space technology have put Pakistan in a different league of Nations. Despite various challenges, Pakistan’s economy has maintained an average growth rate of 5 to 6 percent for the past six decades.
Pakistan’s mineral resource endowments of US $ 30 trillion (double of US GDP) consisting some of the world’s largest reserves of Coal, gold, copper, chrome, gas, rare earth, rock salt, gemstone, marble, onyx and granite in addition to 42 other minerals, is only tip of the iceberg, with half of the country surveyed. Pakistan is the most promising Emerging Market, he added. says a press release received here today from Singapore.
Pakistan has rich agriculture base, being among Top 20 Producers of twenty horticultural products. Pakistan’s location makes it a gateway to half of world’s population in China, India, Central Asia, West Asia and the Gulf region.
Pakistan’s 4th largest labour force who are talented, hardworking, English speaking, cheap and technology savvy, give it unbeatable advantages. Pakistan is located in an Energy rich neighbourhood with plenty of energy potential resources of its own including coal, hydel, wind and solar which could make it the ‘favourite of the investors, Mr. Javed observed.
Pakistan is the only major untapped market for Multinationals looking for ‘safe havens’ for long term profit sustainability. The rate of return is as high as 40-50 percent with provision for 100 percent repatriation of equity, profit and dividend. The rate of return on investment in Pakistan’s stock market was the highest globally during the last decade.
A dollar invested in Pakistani stocks in 2001, became twelve dollars in 2011. Pakistan is home to 800 Multinationals and the number could very well double in the next few years. Pakistan has 53 percent population under twenty years, which by virtue of demographic dividend give it a 2 percent GDP growth rate advantage.
Pakistan has become a part of ‘Flying geese’ economies of Asia, benefitting from the rise of the People’s Republic of China. Pakistan’s rich cultural heritage, social capital and soft power give it a ‘winning edge’ in the 21st Century, a fact acknowledged by the world’s eminent scholars such as Joseph S. Nye Junior, Anatol Lieven and others in their writings. The 20th Century vindicated Pakistan, the 21st Century belongs to us, Mr. Javed added.
More and more Singaporean companies are making investments in Pakistan. Bilateral trade is also increasing. Pakistanis are actively engaged in the development of Singapore-Pakistani relations in all fields.
Pakistan Week celebrations which began here include Munni Begum Ghazal Show, Cultural performance by the Roots School System, Islamabad, Painting Exhibition by Erum Idnan with theme ‘Essence of our heritage’, Pakistan Fashion Fabrics Exhibition etc, sponsored by the expatriate Pakistanis and Singapore Pakistanis Association. High Commissioner Javed complimented the contributions of the Pakistani Community to project Pakistan.
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