BE2C2 Report – The US-based CEOs Clubs Worldwide launched its Pakistan Chapter Monday in the country’s financial capital where the stock exchange is all set to become part of the widely followed MSCI Emerging Markets Index in May.
The KSE-100 index last year alone saw a whopping growth of over 46 percent in market value, drawing attention of US and global investors, and with encouraging reports by the Barrons, the Wall Street Journal, Forbes, and the World bank, institutional investors have started to look at the country as investor-friendly, with strong macro-economic trends — key attributes of a “hot market”.
Pakistan’s business, finance and corporate sector Who’s Who were present at the widely-attended launch of the CEOs Clubs USA chapter in Pakistan. The Club is world’s oldest and largest international non-profit business association for CEOs and entrepreneurs.
Joseph Mancuso, President and Founder of the club, while inaugurating the Pakistan chapter in Karachi, expressed positivism regarding the country’s economic and financial outlook, and said he looked forward to alliance with Pakistani CEOs, share ideas, and provide mutual assistance with a view to bring CEOs in U.S., Pakistan and worldwide together.
With MSCI Index announcement last year, Pakistan became the first country since Qatar and the United Arab Emirates in 2014 to earn the frontier-to-emerging promotion.
The index includes a collection of stocks of 23 developed markets (DM) countries and covers approximately 85% of the free float-adjusted market capitalization in each country.
China, which is funding Pakistan’s gigantic $56 billion economic corridor to access the Middle East and Africa for trade, could not make it last year.
At the launch event, keynote speakers were Sirajuddin Aziz, President and CEO of Habib Metro Bank, Ms Tara Uzra Dawood, CEO of 786 Investment Ltd, Dr. Mirza Iftikhar Baig, Chairman Baig Group, Mir Mohammad Ali Khan, CEO of First Investment Bank on Wall Street.
J.P. Li, Chairperson, China Chapter of CEO Clubs Worldwide, enlightened the audience about future business and investment possibilities between Pakistan and China.
Muhammad Ijaz, Chairperson Pakistan chapter of CEO Clubs Worldwide paid his gratitude to all national and international delegates for making the launch successful.
“Pakistan being a strong nation has immense tendency to grow and nurture abilities within its framework thus converting them into successful opportunities that can bring about change in economy and infrastructure of the country,” he said.
The CEOs Clubs Worldwide has chapters in the United States, Australia, China, Greece, India, the Middle East, Romania, and South Korea, according to its website.