Karachi: Edward Hertzman, Director of business development at Synergies Worldwide, a global apparel sourcing company, said that doing business in Pakistan costs 25% less than doing business in China and about 15% cheaper than other countries.
Addressing the ‘Multilateral Investment and Trade Conference, 2011’, he said that “Although strikes and instability affect production, Pakistan offers the lowest cost alternative in the region”.
Governor of the State Bank of Pakistan, Yaseen Anwar said Pakistan had made great progress in the past three years in increasing foreign exchange reserves and remittances while reducing the current account deficit.
Multinational companies (MNCs) operating in the country had never faced any problem in repatriating their profits, he said, adding that even during the bad financial period in the late 1990s, MNCs had easily repatriated their profits.
Nestle Pakistan Managing Director James Donald said Nestle operated the world’s largest milk factory in Pakistan, whose performance standards were used as global benchmarks. He said the share of packaged milk in Pakistan’s milk industry was only 10 to 15%.
Delegates from Australia, Belgium, France, Germany, Italy, Japan, Malaysia, Russia, Sri Lanka, Switzerland, United States and United Kingdom participated in the conference.
News Details: Ecopositivepk
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