WASHINGTON – Leading equity brokerage and investment banking firm, JS Global Capital Limited (JSGCL) has successfully hosted the fourth edition of its annual event ‘Pakistan Investment Conference – 2019’ in the United States.
As part of the corporate social responsibility (CSR), JS Global hosted the event from 4-6 September to attract foreign direct and portfolio investment to Pakistan besides presenting a positive image of the country to the international community.
The Pakistani delegation was led by Sindh Governor, Imran Ismail, and included: Ambassador at Large for Investment, Ali Jahangir Siddiqui; Member Overseas Investors Chamber of Commerce and Industry (OICCI) Khalid Mansoor; CEO Pakistan Business Council Ehsan Malik, and JSGCL CEO Kamran Nasir.
The delegation for the annual event also consisted of top-level management of leading local corporations comprising roughly one-third of the market capitalization of the benchmark KSE-100 index.
The business delegation was aimed to lobbying for better access and improvement in economic ties through policy level engagement.
Event Highlights
The event started Wednesday in Washington, D.C., at the US Department of State, where Alice G. Wells, Assistant Secretary of State for South and Central Asia was present along with members from the Bureau of Economic and Business Affairs, and Bureau of Energy Resources, in addition to prominent members of US Trade Representative, US Trade and Development Agency, Overseas Private Investment Corporation and USAID.
During the event, Ambassador Wells reiterated President Donald Trump’s observation regarding massive trade potential between the two countries and appreciated the steps taken by the incumbent Pakistani regime to battle Financial Action Task Force (FATF) related challenges.
On the occasion, Governor Ismael highlighted the paradigm shift in Pakistan regarding increased documentation in the economy and structural reforms being implemented at every level of the governance apparatus.
Moreover, Ambassador Siddiqui detailed how Pakistan has improved itself to be a lucrative investment hotspot and highlighted certain measures reflective of government’s commitment to make Pakistan a rising star in the region.
Jehangir Siddiqui apprised the audience of legislative reforms introduced by Pakistan Tehreek-e-Insaf government to improve the overall business climate in Pakistan.
Meanwhile, Mr. Kamran Nasir identified the untapped sectors of Pakistan offering high potential for increase in trade and investment in the near future between the two countries.
Pakistan’s Ambassador to the United States, Dr Asad Majeed Khan hosted lunch for the delegation at the Pakistan Embassy and stressed cementing ties between Islamabad and Washington.
At the event, Governor Sindh highlighted the seriousness of Pakistan’s efforts to improve economic ties with the US and affirmed that Pakistan was progressing towards becoming a stronger and vibrant economy.
The delegation was next hosted by Michael Kugelman, Deputy Director of the Asia Program and Senior Associate for South Asia at the Woodrow Wilson Center.
On the occasion, Mr Ali Jehangir Siddiqui brought the attention of US firms towards the opportunities available under the China Pakistan Economic Corridor (CPEC) project.
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Siddiqui, who is leading the efforts to attract investment, also mentioned the measures being made to improve Pakistan’s position in terms of Ease of Doing Business.
Furthermore, at the Woodrow Wilson Centre, Mr Ehsan Malik elaborated how Pakistan is facilitating special economic zones (SEZs) and the successes bagged by multinational corporations (MNCs) in the country.
Mr Khalid Mansoor touched upon the triumph of Pakistan in its efforts to curb energy crisis which had earlier chocked economic jumpstart.
The business delegation spent the following day interacting with multiple potential investors and renowned business figures.
The delegation was hosted by Esperanza Gomez Jelalian, Executive Director Asia at the US Chamber of Commerce and President of the US-Pakistan Business Council who shared that efforts were underway to encourage the US business community to benefit from investment in Pakistan.
Governor Sindh, Imran Ismail dished in on the improvement in law and order situation, rising incomes and urbanization, offering it as an attractive market for Fast-Moving Consumer Goods (FMCG) companies in particular.
On the second day of the event, Mr. Kamran Nasir also invited the US Pak Business Council to bring a delegation of investors from the US Small and medium-sized enterprises (SME) sector to Pakistan.
It was a busy day for the delegation as USAID Office of Afghanistan and Pakistan Affairs (OAPA) Deputy Assistant Administrator (DAA) Kevin Brownawell, hosted another event and highlighted USAID assistance to Pakistan.
During the interaction, the Pakistani delegation members invited USAID to provide its expertise in sectors explored by the agency in other countries and identified issues such as water shortage and waste management faced by the country.
As Pakistan seeks to progress at par with the global community in the tech ecosystem, the delegation also showcased the growing market for digitization as a prime area for investment.
And then came the final day of the moot and the delegation availed the opportunity to showcase the untapped sectors of Pakistan for one more time.
The delegation dashed to New York where JSGCL along with its US partner, Rosenblatt Securities Inc. arranged exclusive meetings between senior management of Pakistani corporations and large global fund managers.
This delegation comprised Presidents/Chief Executive Officers and Chief Financial Officers of Pakistan’s biggies including Habib Bank Ltd (HBL), Engro Corporation (ENGRO), Hub Power Company (HUBC), United Bank Limited (UBL), MCB Bank Limited (MCB), Oil and Gas Development Company Ltd (OGDC), Pakistan Petroleum Ltd (PPL), Pakistan State Oil Company Ltd (PSO), DG Khan Cement (DGKC), The Searle Company Ltd (SEARLE), AGP Limited (AGP) besides unlisted company Airlink Corporation.
The delegation interacted with potential US investors to explore the sectors in Pakistan which can be utilized by the global firms for mutual benefit.
JS Global Capital Limited is proud as well as humbled to be leading such initiatives to better Pakistan’s portrayal and benefit the country economically.
The three-day event was a massive success considering the opportunities offered to the global giants and JSGCL thanks all local, foreign participants and partners who played a part.
