Irshad Salim (BE2C2 Report)— Seven leading Pakistani companies from several sectors of the industry are in Washington to participate in the Select USA Investment Summit being held from June 18 to 20.
The summit is America’s highest profile annual event that connects global companies and US economic development organizations (EDOs) to facilitate business investment in the US.
“For the first time, world class Pakistani companies will participate in the Select USA investment summit,” US Ambassador to Pakistan David Hale said.
Pakistan has been targeted as a key emerging market for Select USA given growing interest and capacity by Pakistani firms to expand internationally, including in America. Coincidentally, some of the country’s major publicly traded companies are now included in MSCI Index ETF after the Karachi Stock Index (KSE-100) was upgraded from frontier market to emerging market status on the first of the month.
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The US also is the largest trading partner of the country with a total trade of more than dollar 5.5 billion.
The delegation comprises representatives from Afeef Group, Dolmen Group, and Nishat Mills, among other industry leaders.
America is currently home to more foreign direct investment (FDI) than any other country in the world, with a total stock of $3.1 trillion at the end of 2015. Many Pakistani firms have recently opened, started operations in, or are in the process of investing in the American market.
“We are entering a new period of economic revival in the United States,” said American secretary of commerce Wilbur Ross.
“This is an exciting time for global companies to explore the American market and find partners that can help them create a footprint, expand operations, and achieve growth. There is no better place to make those connections than this summit.”
Participants at the first three Investment Summits announced more than $20.6 billion in greenfield FDI into the United States between fiscal years 2014-2016. Data from FDI Markets show that these participants are responsible for more than 12 percent of all announced greenfield FDI projects in the US from during that period.
BE2C2 is a business unit of Irshad Salim Associates which produces reports, infographics, analytics and analyses based on data and information from sources readily available on the web and in the public domain.
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