Ghouse Akbar, Honorary Consul of Spain, Karachi and Miguel Pena Sanchez, Economic & Commercial Attaché, Embassy of Spain, Islamabad visits the OICCI

Ghouse Akbar, Honorary Consul of Spain, Karachi and Miguel Pena Sanchez, who recently took over as Economic & Commercial Attaché, Embassy of Spain, Islamabad visited the OICCI on November 10, 2017 for a courtesy call and to learn about the Chamber’s perspective of the country’s business climate.

The visitors were given a presentation which included the OICCI profile and activities of the Chamber, an overview of the result of the OICCI sponsored Business Confidence Index survey, wave 14, released in May 2017, some key information from the OICCI members Perception and Investment Survey 2015, OICCI Members Security related survey done in June 2017 – which shows further increase of members positive perception of the country’s security environment, snapshot of OICCI listed members success story reflected in the very good CAGR during the period 2009-16, an overview of the OICCI perspective of the country’s economy and opportunities for foreign investors in Pakistan, as well as the challenges and reasons for the low FDI inflow in recent years. OICCI also highlighted that there is no Spanish origin member of OICCI and there is a need to address this gap.

On a query by Miguel Pena Sanchez on potential projects for Spanish investors in Pakistan, he was informed that Pakistan has considerable need for capital investment in several sectors, including mineral exploration, infrastructure, transportation (buses needed for Karachi – which can be discussed with Sindh Government), cost efficient energy, safe and clean city projects.

Ghouse Akbar added his own comments on a number of matters in the OICCI slides, based on his experience of being a leading Entrepreneur of Pakistan for many years. He also mentioned that the Spain Consulate gives full support for issuance of Schengen visas for genuine businessmen

Mr Sanchez mentioned that one Spanish Business House, with support from the Spanish government made a proposal a few years ago for an investment in Pakistan but has not received any response from the concerned authority.

Both teams agreed to continue close coordination, with OICCI assuring full support for a conference of Spanish investors, in Spain or in Pakistan, where OICCI can present a case for investment in Pakistan, supported by actual success stories and experience of foreign investors who are already working in Pakistan.

© 2012 Overseas Investors Chambers of Commerce and Industry
The Overseas Investors Chamber of Commerce & Industry (OICCI) serves as the national point of reference for foreign investors in Pakistan. Established in 1860 as the Karachi Chamber of Commerce, it is the oldest of the existing chambers.