KARACHI: Pakistan has improved the confidence of foreign investors through actions taken for betterment of security and continuous economic growth, Philippe Crevoisier, Consul General of Switzerland in Karachi said on Friday.
“I see progress in law and order situation in Pakistan. Besides commercial and economic activities in the country are very impressive,” he said while inaugurating the 14th International Plastic, Printing and Packaging exhibition held at Expo Center Karachi.
Event is organized by the FAKT Exhibitions have participation by 300 companies from all over country and abroad. This will continue till Sunday March 18th.
Consul General said that Pakistan is one of the biggest markets for foreign investors. Such exhibitions will help the country to bring foreign investment in the country. Importers from various countries, including Switzerland are assessing the market for placing orders, he told.
Talking about China Pakistan Economic Corridor (CPEC), he said it was great opportunity for Pakistan to take advantage and improve its market size and economic activities. To a question regarding Pakistan’s reliance on China for economic growth under CPEC, he said that trade activities of Europe Union (EU) countries were within the neighboring countries. “It is good to see Pakistan is partnering with neighboring country,” the consul general added.
Rainer Schmiedchen, Consul General of Germany in Karachi was also present at the inaugural ceremony. On the occasion, Chief Executive Officer (CEO) FAKT Exhibitions Muhammad Saleem Khan Tanoli said that it was major exhibition in the country and during the three-day exhibition about 300 companies from different countries would display their products.
He said that the companies participating the exhibition, are mainly from Germany, China, Sri Lanka, Italy, Switzerland etc.
Tanoli said that the primary objective of the exhibition is to attract foreign direct investment for the country. The exhibition will help in creating business opportunity and networking for the manufacturing sector. Event is committed to build new as well as strengthen existing business relations between Pakistani companies and rest of the world, he emphasized.
It is interesting to know that FAKT Exhibitions has been organizing this flagship event for the last 15 years on regular basis to keep local sector abreast of latest technological developments and best practices applied by world famous groups and companies in plastic, printing and packaging sectors, he told.
Tanoli said that the exhibition had all the impulses to make a benchmark in the Plastic, Printing and Packaging businesses.
- Plastics industry in Pakistan is second largest in South Asia. Currently there are 6,500 plastics processing units in Pakistan. The major concentration of plastics processors whether they are injection, blow, extrusion, woven or tubular films manufacturers, is in and around the industrial hubs of Karachi, Lahore, Gujranwala, Peshawar, Faisalabad, Hyderabad and Rawalpindi. (source: food journal)
- Packaging industry is attracting reasonable foreign investment as a result of rising exports and increasing local consumption of packaged foods which has pushed up the demand for packaged products. Flexible Packaging, Paper boards, Corrugated Boxes & Cartons, Plastic films, Thermoplastic boxes & containers and Jute sacks are in demand in Pakistan market.
- Printing industry in Pakistan has enormous potentials which remains an untapped treasure in Pakistan. Over the years, the industry has attained a height where it is serving and adequately meeting the entire paper and printing needs of the industry including the multinational companies. For past few years there is more attraction in Digital Printing and its growing very fast.
- Rubber industry in Pakistan is not very big sector but it has potential to grow. As per latest stats shared by Pakistan Bureau of Statistics (PBS), the rubber products has shown increase of 4.51% in July 2017.
- Chemical industry in Pakistan was major sector for foreign investment in 2016. There are total 24 chemical listed companies in Pakistan. As per latest figures shared by Pakistan Bureau of Statistics (PBS) in September 2017, chemical sector has shown growth of 5.13% mainly because of an increase in caustic soda (24pc), paints and varnishes-small (0.22pc)