LONDON: Pakistan’s High Commissioner to the United Kingdom Tipu Usman has called on overseas Pakistanis to invest their capital, skills and experience in Pakistan, saying major opportunities are emerging in technology, Artificial Intelligence (AI), real estate, hospitality and infrastructure development.
The High Commissioner made these remarks after meeting Islamabad-based businessman Maqbool Hussain Awan at the Pakistan High Commission. The High Commissioner endorsed and supported Awan’s appeal to overseas Pakistanis to play a greater role in Pakistan’s development.
Maqbool Hussain Awan said he had come to the UK as part of a major initiative to engage British companies and the Pakistani community and introduce them to investment and business opportunities available in Pakistan, especially in tax-free zone and in the areas of infrastructure development and modern technology where Pakistan has become a key player.
“There are tremendous opportunities being created in Pakistan,” Awan shared with the High Commissioner. “Our group is currently undertaking major developments, including malls, hotels, technology zones and different kinds of development projects. We are currently undertaking around 10 million square feet of construction, which demonstrates the scale of development taking place in Pakistan despite negative perceptions about the country’s economy. People talk about a crisis in Pakistan but when one group alone is carrying out around 10 million square feet of construction, you can see the scale at which development is taking place.”
Awan said his group had grown several times over during the past two to three years and had generated substantial business during this period. He said the experience showed that significant opportunities remained available for investors willing to explore Pakistan’s market.
The High Commissioner highlighted the latest technology zones being set up in Pakistan, saying these were designed to provide opportunities to international companies seeking to establish operations in Pakistan and participate in technology transfer.
Usman said the US-based, Saudi, UAE, Chinese and other international companies were showing interest in the technology sector and the Pakistani government was actively working to facilitate such businesses.
He said the government has introduced major tax incentives, including a zero-tax regime for qualifying activities within the technology-zone framework, creating opportunities for international technology and innovation companies.
He urged Pakistani professionals specialising in technology, innovation and other advanced sectors to bring their expertise to Pakistan and work with local businesses and young people. He said that said overseas Pakistanis, businesses and professionals should make a collective and integrated effort to create opportunities for Pakistan’s younger generation and help the country navigate difficult global economic conditions.
He said Pakistan’s improving international profile had created further opportunities and argued that greater engagement by the diaspora could accelerate investment, innovation, technology transfer and economic development.
