Friday, September 24, 2021

Foreign investors are pleased with the security situation

According to the Overseas Investors Chamber of Commerce and Industry (OICCI) Security Survey 2021, foreign investors have continued to express trust in Pakistan’s security situation, with the exception of occasional street crimes in Karachi.

The results of OICCI’s current Annual Security Survey 2021, which covered feedback on the security environment in Pakistan’s commercial centres, were announced. OICCI is the collective body of Pakistan’s top 200 foreign investors.

The survey took place between May 21 and June 21. The head offices of almost two-thirds of OICCI members are in Karachi, with activities all over the country.

According to the newest study, the general security environment has improved since mid-2020, particularly in Lahore (61 percent), Khyber-Pakhtunkhwa (59 percent), the rest of Punjab (53 percent), and Karachi (51percent).

In an interview with The Express Tribune, Topline Securities economist Atif Zafar stated, “It is really encouraging to see that on-ground developments are being recognized by people abroad since it is very vital to create a positive image of the country in the eyes of foreign investors.”

“The main international investors operating in the country have a positive impression of the security environment, which is a source of tremendous satisfaction and also sends a positive message to future investors,” said OICCI President Irfan Siddiqui in response to the poll findings.

Foreign investors praised law enforcement authorities’ (LEAs) continued effort on strengthening the security environment, which was one of the most important criteria in drawing foreign direct investment (FDI) into the country.

“Security is still one of the top three concerns for 62 percent of respondents, up from 70% in the 2020 survey,” he added.

The OICCI Security Survey 2021 received responses from more than two-thirds of the more than 200 members, including CEOs and senior management from OICCI member organizations.

Despite the Covid-related travel limitations that have been in place since March 2020, international nationals visiting OICCI members’ enterprises continued last year, albeit at a decreased frequency.

In terms of major crimes, 87 percent of respondents said they were either down or not a concern in Lahore compared to the previous year. According to the study, 75% of respondents thought there was either a decline from last year or that it was not an issue in Karachi.

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