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German companies eager to invest in China Pakistan Economic Corridor (CPEC)

Pakistan-Germany

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The door to economic opportunities has finally opened for Pakistan as German investors are keen to initiate business in Pakistan and participate in China-Pakistan Economic Corridor (CPEC).

German ambassador Ina Lepel said initially investors were apprehensive over investing in Pakistan due to the hostile security conditions and uncertainty prevailing in the country, however, their perception radically changed once they visit Pakistan.

She further elaborated that German companies are particularly keen to start energy-related projects in Pakistan. The focus is on renewable energy and power-saving programs to solve the issue of the energy crisis in the country. For over a decade, energy crisis has negatively impacted the economy of Pakistan, it is time to find a viable solution.

Though German companies have shown interest yet, the government of Pakistan needs to address certain concerns of the business community to further boost their confidence.

The German ambassador expressed these thoughts during a ceremony held by Federation of Pakistan Chambers of Commerce and Industry (FPCCI) President, Abdul Rauf Alam.

Alam highlighted the need to start direct flights between both countries so business community of both the countries could be further facilitated and carry out their operations smoothly.

President of the Chamber also said that German car makers have a significant global presence, they need to have a strong base hold in Pakistan as well as it is a potential market. Further urging the German ambassador to convince German conglomerate to direct their attention towards Pakistan as it will create harmony of interest for both Pakistan and Germany.

Earlier, a high-ranking 20-member German trade delegation visited Pakistan, officials from the Europe’s largest economy were part of the trip. The delegates spent a busy day in this financial hub of the country with Karachi Stock Exchange (KSE) being their first destination to attend the gong ceremony.

The overall improvement in security conditions has now created endless opportunities for the Pakistani business community, they have long suffered from periods of grave uncertainty. Foreign investment will cause substantial growth in GDP and allow the government to give greater employment opportunities.