Islamabad : Azfar Ahsan, former Minister of State & Chairperson, Board of Investment (BoI), has said that there is critical need for a comprehensive strategy to attract both local and foreign investors in Pakistan.
Mr Azfar was speaking as guest speaker at a Special Talk on ‘Pakistan’s investment landscape: challenges, opportunities and way forward’ organised here by Institute of Strategic Studies (ISS).
Mr Azfar emphasized that investment success in Pakistan hinges on supporting and facilitating existing investors, a crucial step toward creating a sustainable investment climate. He strongly advocated for a long-term national approach including framing of a “country strategy” to improve investor confidence and ensure economic stability. Furthermore, he highlighted the importance of foundational reforms across all sectors of the economy. He argued that Pakistan must move away from reactive policies and focus on creating a business- and investment-friendly environment.
This requires consistent policy frameworks, regardless of political changes, as well as a commitment to improving infrastructure, governance, institutional capacity and law and order. These efforts, he noted, would not only attract new foreign direct investment (FDI) but also strengthen relationships with existing investors, which was critically important.
Mr Azfar highlighted the potential for joint ventures between Pakistani and foreign investors, particularly in sectors like technology, agriculture, and manufacturing. He emphasised Pakistan’s strategic location and youthful population as key assets that could be leveraged for future growth. He encouraged policymakers to learn from neighboring countries such as China and Uzbekistan, where strategic planning and collaboration with global businesses led to rapid economic development. He also stressed the importance of imbibing from the Saudi experience and working closely with Saudi authorities to significantly expand the Kingdom’s investment profile in Pakistan.
In his concluding remarks, former Air Chief Marshal Sohail Aman said that the security, stability and economic prosperity have integral connection, noting that Pakistan’s progress depends on creating an environment conducive to foreign investment. He underscored the importance of a united approach with leadership playing a pivotal role in fostering long-term economic stability. Sohail Mahmood, Director-General, ISS, and Dr Talat Shabbir, Director, ISS, also spoke on the occasion.