LAHORE: Executive Director, Bangladesh and Sri Lanka, TUV Austria, David Embery has asked Pakistan to focus on improving law and order, educational reforms, tax reforms, and more business and investment friendly laws to better develop the human resource capital and attract foreign investors.
He was addressing the Annual Budget Symposium for Asia Pacific Region for the year 2017 organised by TUV Austria-Pakistan on Monday. Presently, Pakistan’s new tax laws applicable on the service sector were detrimental, keeping in mind that service sector was 52 percent of the GDP, whereas in India the taxation on service sector was being relaxed to attract more investment, he added.
He further said that Pakistan’s geopolitical location gave it the potential to enter the developed countries sooner than later. He also appreciated TUV Austria-Pakistan for organising the event that brought together the chief executives from Asia as well central Europe.
TUV Austria-Pakistan Chief Executive Officer and Regional Director Asia Pacific Rashid Mehr said the economic situation of Pakistan was improving and moving forward in the right direction to achieve the desired growth which it rightly deserved.
Such symposiums provided international entrepreneurs an opportunity to view the progress of the Pakistani economy over the past years. It was made possible due to the improved law and order situation, as foreigners felt encouraged to visit Pakistan freely.
“We are proud to host people from Australia, China, Thailand, Bangladesh, Sri Lanka, Singapore, Austria, and Holland” Mehr said. Dr Reinhard Preiss, International Executive Director, Industry and Energy Business, said it was good to witness Pakistan’s growing economy, as well as the improved law and order situation. “Such symposiums can bring together countless beneficiary international business relationships.”
Rob Bekkers, International Executive Director Life, Trainings and Certification, asked the international companies and businesses to engage with Pakistan as it had great human resources, infrastructure and opportunity in the energy, oil and gas, infrastructure and service sector.
The country head of Bangladesh said, “This is my second visit to Lahore, Pakistan and it feels nice. Beautiful city, kind people, great food and they are very keen to learn about the people and culture of Bangladesh.”
The TUV Shanghai chief executive officer said the Chinese people considered Pakistan as their second home. “We have deep rooted political, social and now economical relationship with Pakistan,” he said.
The Chinese companies were already benefiting from CPEC investment portfolio and TUV Austria-Pakistan and TUV Austria-Shanghai were there to assist all the Chinese companies working in Pakistan with their quality assurance and quality control needs, he added. He showed intention to visit other cities of Pakistan and meet the Chinese companies to strengthen ties.
He said that such conferences would help Pakistan improve its standing and image in the international market and there was no doubt that the overall economic situation of the country had improved.
Source: Daily the News