Islamabad : Dec 12,2024: Mr. Khurram Schehzad, Advisor to Finance Minister* has said the latest Overseas Investors Chamber of Commerce and Industry (OICCI’s) Business Confidence Survey results send a strong signal to potential investors globally, reaffirmed by the renewed optimism by existing foreign investors, reaffirming Pakistan as a promising and reliable destination for investment.”
The Finance ministry released Key takeaways from the OICCI’s latest Business Confidence Survey:
– *Business Confidence at 2-Year High:* Foreign investor confidence improved to *+6%* (from -4%), highest since Nov-22.
– *Business Situation:* Pakistan Business Situation improved to *20%* from 8% earlier, showing improving cost of doing business.
– *Strong Growth Outlook:* Investors anticipate *30% Sales Growth* with industry recovery, demand & production activities.
– *Expansion Plans Surge:* *39%* of investors plan business expansion, up from 14%, signaling improved growth outlook.
– *New Order Index up:* Significantly improved to *20%* from 4%, reflecting renewed sense of optimism among businesses.
– *Jobs Improve:* Employment prospects improved, with Manufacturing sector leading with a rise to *6%* from 2%, followed by Services sector’s robust growth, rising from 7% to 30%.
– *Global Perception Boost:* Optimism about Pakistan’s global business situation jumps to *+31%* (from -10%), reflecting improved foreign perception.
– *Optimism by Majority:* *43%* of respondent expressed optimism for next 6 months, up from 34%.
– *Improved Country-wide:* For both metro cities (Karachi, Lahore, Islamabad, Faisalabad) by *9%*, as well as non-metro cities by *13%*.
*Sales Volumes* already started showing results in Nov-24: *Cement (+6%) Fertilizer (+7%), Auto (+58%), Petroleum (+15%).*
These results send a strong signal to potential investors globally: existing foreign investors are optimistic, *reaffirming Pakistan as a promising and reliable destination for investment.*
_OICCI comprises: over 200 members, from over 30 countries, representing 14 sectors, invested US$ 22bn in Pakistan in last 10 years, contributing 1/3rd to total taxes, 25% companies listed at PSX, and many are part of Fortune 500._