US Business Delegation Eyes Investment in Faisalabad

FAISALABAD: American businessmen intend to enhance productive activities in Pakistan through investment, mechanisation and automation in brick, agriculture and other sectors, the head of a United States business delegation said.

Mr Gregory John, head of the business delegation, said during a visit to the Faisalabad Chamber of Commerce and Industry that the delegation was aspiring to exploit emerging opportunities in Pakistan.

He said the ultimate objective of the visit to Faisalabad was to discuss and share ideas with local entrepreneurs.

Pilot projects could be launched to enhance production in order to attain sustainable growth, he said.

He appreciated the role of AARI and said its 700 agriculture-related inventions and technologies could be commercialised, adding that he could also explore other sectors for profitable investment.

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Mr Kevin Wayne Stark said there was a direct link between profit and employees. He said companies caring for their employees could earn 33% more profit, adding that 56% of employees were loyal to their companies because of their good behaviour.

Earlier, President Arif Ehsan Malik welcomed the delegation and said bilateral trade between Pakistan and America was $11.5bn, with the trade balance in favour of Pakistan. He said the volume of bilateral trade could be further enhanced through American investment and technology transfer.

He also stressed the need to modernise the brick industry in addition to the value addition of agricultural produce. He said Faisalabad was an important centre of textile and weaving.

He said Faisalabad intended to enhance the production of power looms by switching from traditional to air jet and water jet looms, adding that American investors could set up a modern loom manufacturing unit in Faisalabad.

Faisalabad was moving towards a digital economy which could play a major role in its development, he said. The chamber was ready to cooperate and collaborate with American businessmen and he would appreciate their repeated visit to the city.

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Mr Maqsood Ali, a Pakistani expatriate, said Faisalabad was safe for foreign direct investment. He said negative impressions prevailing among foreign investors needed to be dispelled.

Chaudhary Muhammad Nawaz, Shabbir Hussain Chawala, Muhammad Azhar Chaudhary, Hunain Hamid, Faisal Naeem Paracha and Muhammad Taimoor Sharif took part in the question-answer session. Senior Vice President Mian Muhammad Saeed offered a vote of thanks.

Later, President Arif Ehsan Malik presented FCCI shields to the members of the United States business delegation.

Mr Fred Burckbuchler, Mr Jeffrey T. Troike, Dr Rubina Feroz Bhatti, Muhammad Akhtar Iqbal, Vice President Muhammad Yasin, Muzmil Sultan, Umer Farooq Khaloon, Sheikh Muhammad Fazil, Muhammad Asif, Muhammad Yousaf and Imran Latif were also present during the meeting.