Islamabad: The biannual ‘Perception and Investment Survey 2019’ recently conducted by the Overseas Investors Chamber of Commerce and Industry (OICCI) shows that foreign investors operating in the country are ‘cautiously optimistic’ with regards to Pakistan’s future growth potential, according to news sources.
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The foreign investors have also expressed their concerns over the inefficient progress of the drive to document the economy, the country’s high-interest rates, and the devaluation of the rupee. However, about 75% of the survey respondents also hinted their willingness to recommend new Foreign Direct Investment (FDI) in Pakistan to their parent firms.
OICCI President Shazad Dada stated that the survey results showed the positive interest of business entities and their optimism for the future. He said that 7 out of 10 respondents indicated their plans to invest more or similar capital (as before) in Pakistan over the next 5 years.
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When asked about the problematic areas of the economy, the top five points highlighted by the Chief Executive Officers of the OICCI were (in order) “rupee devaluation, the gap between policies and their effective implementation, increasing tax burden, cost of doing business and increase in borrowing cost/interest rates.”
Lastly, the survey also indicated that 35% of the companies expressed an interest in growing their manpower that is expected to create employment opportunities across the country.