Staff Report
ISLAMABAD: Federal Minister for Energy, Muhammad Hammad Azhar on Thursday said that investment was a vital component of economic growth and development, especially in developing countries. He said in a statement on behalf of the Prime Minister of Pakistan at the “World Leaders’ Investment Summit”, one of the high level events of 7th World Investment Forum (WIF), said a press release issued by Federal Board of Investment (BOI) here.
The 7th WIF is being hosted by the UAE government virtually, in collaboration with United Nations Conference on Trade and Development (UNCTAD) from October 18 to 22.
World Investment Forum is one of the pre-eminent global platforms for policy debate on investment for development. Hammad Azhar underscored the importance of investment by saying that investment was a vital component of economic growth and development, especially in developing countries and FDI inflows were more necessary now than ever.
He pointed that investors require legitimate guarantees to mitigate risks and secure reasonable returns and proposed deployment of public finance as a means to de-risk private investments and said that Pakistan should prioritize investment flows to areas aligned with Sustainable Development Goals (SDGs).
