FINNISH INVESTORS LOOK FOR LONG TERM INVESTMENT IN PAKISTAN

Ms. Ameena Saiyid, President OICCI presenting a memento to the Ambassador of Finland, H.E. Osmo Lipponen

Karachi, December 21, 2010: The Ambassador of Finland H.E Osmo Lipponen, and the Deputy Head of Mission, Ms. Katja Kalamaki visited the Overseas Investors Chamber of Commerce and Industry (OICCI) to discuss and explore areas of business and economic activity. 

While addressing members of OICCI, Ambassador Lipponen acknowledged Pakistan to be a potential market for Finnish investors. He shared that the Government of Finland was keen on working with Pakistan towards making it an investment friendly destination.

Ambassador Lipponen further added that over 400 Finnish companies are currently operating in the South Asian region, and have made substantial investments in the past 10 years. Whereas Pakistan has been able to attract only a handful of these companies due to lack of stability and

investment security. The Ambassador informed that in order to increase the inflow of Finnish investment in the long term, Pakistan would have to finalize a pending agreement on investment protection with Finland. 

While speaking on the occasion, Ms Ameena Saiyid – OBE, President OICCI, said, “The Chamber is willing to extend full cooperation and support to Finnish investors in attracting FDI in Pakistan.” She shared the results of OICCI Perception Survey which highlights the ground realities of operating in the country from the business community's perspective and highlighted the positive incentives for investment offered by the government which are generally overlooked given the negative perception of Pakistan. 

To conclude, the President noted that despite limitations, Pakistan still remains an attractive destination for investment and members of OICCI have been profitably running their businesses in the region for over 150 years, and this should serve as a positive indicator for Finland based investors. 

The Overseas Investors Chamber of Commerce & Industry represents 185 foreign companies doing business in Pakistan, many of whom began operations in Pakistan almost 60 years ago. The Chamber itself is by far the oldest such trade body in the country and region having been established 150 years ago. OICCI members collectively contribute over 29 percent of Pakistan’s total GNP, 22 percent of total tax receipts, and provide direct employment to approximately 150,000 people. OICCI also plays an active role in terms of representation and advocacy to the government, various regulatory bodies, and policy makers.