You want to plough your money into a fertile market with low competition, your mind suggests Pakistan but you are stuck on the state's safety. This uncertainty wanders in anyone's mind who is traveling to Pakistan for the first time, but it gets vanished as he experiences the ground reality, which is nothing but a conducive and healthy working environment.
The stats indicate that Pakistan has the potential to emerge as a big market. It recorded a sharp 88% rise in Foreign Direct Investments FDI, from $1.36 billion in 2019 to $2.56 billion in 2020, reported by the State Bank of Pakistan. It is holding meetings with the officials of allies and also different companies to land the investments. The state is also facilitating visa on arrival to the nationals of 95 countries under the Business category. Overall, the market is expanding with diversification.
After 9/11, Pakistan also suffered from terrorism, but the political and military consensus to bring peace back in the country has resulted in a Safe Pakistan. Yes, it is safe for all travellers, irrespective of their gender, colour, or nationality. You can move freely in the country, go shopping, stroll on roads, visit tourist spots, taste street food, attend meetings, interact with locals, or grow your business.
Usually, the meetings start with exchanging greetings and running late; tea or refreshment is also served. In Pakistani business PR (public relations) is essential. In the local market, people trust each other's words and find it odd to pen down the transactions. However, in the corporate culture, meeting minutes are recorded, and agreements are well documented.
Now, if you want to get a share from this thriving economy, you may invest in its core contributing sectors. Here is the list of five most promising industries you should consider investing in.
With immense talent, Pakistan's young and energetic population aligning with the Government's Digital Pakistan Vision can make the country a big Asian market for Tech Startups. The country is featured as the fastest-growing economies in Asia according to the latest report of McKinsey & Co's on the Pakistani ecosystem. Also, 720 startups have been started since 2010, 67% are still in operation. Pakistan has seen an incredible rise in IT exports, and its diligent people also took the country to the fourth rank in freelancing. Pakwheels.com, zameen.com, Daraz, Careem, Oracle, PITB, and Fortinet were the first to explore this sector's potential and have benefited greatly.
The government is focused on nurturing and promoting this sector. Pakistan's tourism has got attention across the globe as it was featured in Forbes, Lonely Planet, and Conde Nast Traveller's for its tourism. The Pakistan tourism industry contributes 5.9% to the total economy and provides 6.2% of total employment. Pakistan seeks support in this sector from fellow countries and investors worldwide. You can invest in hotels, food, and other services.
3. Automobile Industry- Electric Vehicles
Automobile industry contributes 2.8% to the GDP. You can find names of Honda, Suzuki, Toyota working in Pakistan. However, an electric vehicle is a new sensation for the countrymen. You won't find electric cars on roads but, planning, and agreement-signing, are all in swing behind the curtains. Audi e-Tron is already launched in Pakistan.
4. Energy Sector
The country aims to utilize the massive potential of renewables, particularly solar and wind energy. Currently, there is low competition in this market, but the government seeks investment in this sector. Goldwind, Gul Ahmed Group, Sapphire Renewable, Skyelectric, Reon Energy, and others work in this sector.
5. Textile Industry
Textile is the largest industry in Pakistan. It contributes 8.5% to the country's GDP and employs 40% of the total labour force. Leading names in this sector are Khaadi, Levi's, Bonanza, Sapphire, Kohinoor Mills Limited, etc.
Pakistanis generally are humble and treat you with respect. Though Pakistan is a male-dominant society, however; the percentage of women in the workforce is increasing. If you are a female and on an official visit, you might get extra favours during your journey.
You might be asked to sit first or serve the tea first.
Your colleagues would be ready to provide help for any heavy load you carry along. You may also get a segregated resting area to relax, the same as any other Pakistani women.
Sometimes you might get some unwanted attention, so for a safe and peaceful time, making memories of no bad experiences, you should be dressed in full, covered clothes, modestly. It is better to move around in a group, and travelling with any local friends would make your visit even more comfortable.
However, If you are visiting first time, Make sure, you must check the detailed guide to apply Paksitan visa online. To get your Pakistan visa online without any hindrance.
If you have booked any hotel or guesthouse, they may provide you with the airport pick-up and take you safely to the destination. Otherwise, you can get a car on rent or make use of radio cab services, available in big cities like Karachi, Lahore, and Islamabad- the Capital. You may also hire a local driver who can take you anywhere you want, negotiate for you at checkpoints, where the language barrier could become an issue.
Still not convinced that Pakistan is a safe place? The military here has reasonable control over its affairs, with the civilian government and citizens' support. You might see groups of military-men, equipped with weapons, patrolling on roads. It is ubiquitous, especially in Karachi, that once suffered from blasts and target killings. However, now, conditions are much in control of the security forces. Generally, the public likes their army and feels safe in its presence. Pakistan's Intelligence Agency, ISI, plays a significant role and ruins terrorist activity plans before sprouting.
Mostly, tourists or business delegations return to their countries safe and sound. Big and busy cities are a secure place alike for a foreigner and local. Some areas still expect the chances of any violent activity, but it is almost impossible for a foreigner to be in the vicinity of those areas.
Even if you try, at various checkpoints, you would be enquired and refused to move forward. So you might come to Pakistan with a heavy heart and random thoughts in mind but, you get a sigh of relief when you see the lively and cheering people of a developing country and attentive mobiles of security organizations.
Karachi, a metropolitan city of Sindh, generating the largest share of the country's revenue, is the hub of business activities. It is usual for the workforce to attend foreigners, making official visits to industries or companies.
The general public is also hospitable towards the new faces in the city. The same is the situation in Lahore, the heart of Punjab, but if you are asked to rate the two cities; for business trips, Karachi has a professional attitude, but when you are done with your meetings, and now you want to explore the all-heard adventures and tales about the country, you may start your exciting trip with Lahore.