Masood Khan appeals to Pakistani business leaders to scale up investments in energy, IT, agriculture, and mineral extraction.
“Pakistan is becoming a tech hub and a prime destination for investment. We need to find new avenues to increase Pakistan’s trade volume beyond traditional exports,” said the Ambassador of Pakistan to the United States.
Ambassador Masood Khan made these remarks while addressing a delegation from Pakistan that is visiting the United States to participate in the SelectUSA Investment Summit, 2024.
The delegation, led by Mr. Adnan Asad, the Honorary Consul General in Orlando, Florida, and CEO of Venus Group of Industries, and Mr. Hassan Raza, Commercial Specialist based in Lahore Pakistan, comprised a diverse cross-section of industries, including information technology, industrial chemicals, furniture and home furnishing, steel, textiles, and retail including Chughtaiz group, famous in high-end Kitchenware, led by woman entrepreneur Roma Chughtai.
The Select USA Investment Summit, hosted by the US Department of Commerce, connects thousands of investors, companies, and economic development organizations. The summit has generated over $110 billion in new investment projects, supporting over 85,000 jobs across the US and its territories.
Addressing the delegates, Ambassador Masood Khan highlighted key sectors ripe for investment in Pakistan, including energy, IT, agriculture, and mineral extraction.
“Beyond traditional exports, you need to diversify Pakistan’s trade profile and capitalize on these high-growth sectors with massive potential returns,” he added.
Ambassador Khan also pointed to the presence of 83 Fortune 500 companies already operating profitably in Pakistan, reaping substantial profits.
Referring to the U.S. Government’s support in the skill development of Pakistani youth, Ambassador Khan commended the U.S. government’s support for professional exchange programs, especially in areas of technology, FinTech, and business development.
“These programs equip Pakistani youth with valuable skills that benefit Pakistan’s development upon their return. We hope to see a larger cohort fostering a critical interface between the two countries,” said the Ambassador.
Highlighting Pakistan’s economic progress, Masood Khan expressed optimism about the projected growth rate for the next fiscal year, signaling increased investment opportunities in Pakistan for investors.
“There shall be a Select-Pakistan also where investors shall come and invest while experiencing our hospitality,” said Masood Khan.
The ambassador thanked Mr. Adnan Asad, Honorary Consul General in Orlando, Florida, and CEO of Venus Group of Industries for his role in fostering business connections between the two countries.
He also applauded the efforts of Ms. Aileen Nandi, Executive Director for Asia, U.S. Commercial Service, Esperanza Jelalian, President of U.S.-Pakistan Business Council, and Emily Ashby, Director of South and Central Asia at Office of the US Trade Representative (USTR) for this successful event.
In his remarks, Mr. Adnan Asad thanked Ambassador Masood Khan for his hospitality and for welcoming the Pakistani delegation at Pakistan House. He shared his experience in opening offices of various Pakistan-based companies in the U.S. and partnering with local companies with a potential for growth and collaboration.
The Ambassador concluded by reiterating the importance of entrepreneurship and collaboration. While informing audiences about the opening of an outlet by the famous Pakistani chain Sapphire in Tyson’s Corner Mall, Virginia, USA, he encouraged Pakistani businesses to explore investment opportunities in the identified sectors, fostering stronger economic ties between Pakistan and the United States.
Washington, D.C., June 27, 2024
