Economic turnaround has turned Pakistan into best place for doing business: Speakers

Lahore, April 30, 2015 (PPI-OT): Economic turnaround has turned Pakistan into a best place for doing business but still it is an emerging market that has created challenges for the doing business. For the success young entrepreneurs should have an eye on innovation and follow those business groups which got success despite lack of resources.

This was upshot of the speeches and presentation given at a seminar on “International Business in Pakistan, Challenges and Successes” organized by the Lahore Chamber of Commerce and Industry here at the LCCI on Thursday. The LCCI President Ijaz A. Mumtaz, Senior Vice President Mian Nauman Kabir, Vice President Syed Mahmod Ghaznavi, CEO Telenor Pakistan Michael Patrick Foley, Chairman Millat Tractors Sikandar M. Khan, Zafaryab Ali Khan of Sofizar Constellation, Khurram Zafar of Lahore University of Management Sciences (LUMS) and Ali Ahmad of MARO were the key speakers amongst the others.

More than 50 experts, scholars and seasoned international and national business leaders attended the seminar and shared their knowledge and experience with the participants. The speakers said that Pakistan has a strong potential to grow and nurture businesses in the country. They said that we need strong will to ensure our presence and growth in any kind of circumstances.

The LCCI President Ijaz A. Mumtaz said that innovation holds the key to success for young entrepreneurs therefore they should have an eye on global patterns while doing their businesses. He said that the Lahore Chamber of Commerce and Industry was doing the needful for the upcoming entrepreneurs through seminars and workshops.

He said that the country was in dire need on innovative entrepreneurs. He said that there was no dearth of resources in the country but only thing that has kept it behind in a number of economic sectors is the unawareness about the latest business techniques and methodologies.

He said that in today’s international business arena, competition has grown by leaps and bounds. For the success, we have to focus on all business related issues from innovation and marketing to sustainability. He said that entrepreneurs should have to focus on sustainability issues which have become critical to the future success of international business.

He said that sustainability is now spreading to every domain of business and posing questions that the business groups had never been asked before. Young entrepreneurs should have to learn from the seasoned businessmen that how sustainability could be used as a source of innovation.

CEO Telenor Pakistan Michael Patrick Foley said that Telenor Pakistan was launched in 2005 in Pakistan and has written new stories of success within a short spam of 10 years. He said that Telenor Pakistan aims to play a pivotal role in government’s efforts to promote e-inclusivity for all to foster socio-economic transformation of Pakistan. It has always been at the forefront for bringing people into the communication loop and boosting the social economy with accessible and much needed services.

The LCCI Senior Vice President Mian Nauman Kabir said that was not it very strange that the countries which were far behind Pakistan only 50 years ago were now fast making their place in the comity of developed countries. While citing his personal business experiences, Mian Nauman Kabir said that he had visited a number of countries in the world and almost everywhere the Pakistani are at the top positions because they are very hard working and foreigner love to work with them.

He said that risk is the name of the game as far as entrepreneurship is concerned but the ultimate winners who learn from their mistakes and adopt corrective measure without any loss of time. Nauman Kabir said that we have 60 per cent youth population in Pakistan if 25 per cent or more become entrepreneurs; they can become the assets of Pakistan for creating job opportunities.

He said that new comers in the business should also try to establish their own brands instead of relying on existing brands. He also urged them to focus on exports as there are a number of global destinations that are unexplored even today.

Chairman Millat Tractors Sikindar M. Khan said that Pakistan has some of the best infrastructure, agriculture, and natural resources in South Asia. In addition, there are a number of initiatives from government and donor agencies to boost the entrepreneurial culture. He urged the young entrepreneurs to focus on quality while dealing with their foreign buyers so that their product could win a good share in the global marketplace.

For more information, contact:
Shahid Khalil
Information Department
Lahore Chamber of Commerce and Industry (LCCI)
Lahore -54000, Pakistan
Tel: +92-42-111-222-499
Fax: +92-42-6368854

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