South Asia is open for business, experts tell GMIS 2017 audience

South Asia is open for business and investment, delegates at the Global Manufacturing and Industrialisation Summit, GMIS 2017, taking place at the Paris-Sorbonne in Abu Dhabi, were told on Thursday.

Speaking at a special session titled "Focus on South Asia", Ghulam Murtaza Khan Jatoi, Pakistan’s Minister of Industries and Production, told delegates that the China-Pakistan Economic Corridor, CPEC, will open up links between China, the Arabian Gulf and beyond, as well as opportunities for internal investment into Pakistan. The Minister said Pakistan is "looking for manufacturers from around the world to come and invest." He added that a ten-year no duty incentive will be available to investors in a number of investment zones across the country.

Jatoi’s assertion that South Asia was open for business was reinforced by the other panellists, Mike Singh, Chairman and Chief Executive Officer of TC Group, and technology entrepreneur Shaffi Mather.

The Minister also admitted that difficulties remained that needed to be addressed if South Asia was to achieve the regional integration that is vital for economic growth, but he hoped the multi-billion dollar CPEC initiative would help reduce barriers across the region and open up greater global opportunities.

In a note of caution, Mather said,"The reality is that unless Pakistan and India get the conditions right, no economic integration will become a reality."

Singh added that "education was the key tool in the armoury in the fight against discrimination in the region."