Pakistan’s Ambassador to the United States, Masood Khan, has made a compelling appeal for increased US investment in Pakistan’s market, particularly as the nation grapples with a decline in foreign direct investment (FDI) in 2023. This call for enhanced investment was articulated during Khan’s address at the Conference on Resilience and Reform in Pakistan, an event organised by the US-based think tank Atlantic Council in Washington, DC.
During his speech, Khan underscored that Pakistan and the United States have engaged in a series of dialogues over the past year, encompassing a wide range of areas, including trade, investment, energy, climate change, health, science and technology, defence, counterterrorism, and counternarcotics.
Ambassador Khan’s message conveyed that this is an opportune time for US businesses to expand their investments in the Pakistani market. Simultaneously, he encouraged Pakistani traders and entrepreneurs to broaden their reach and presence in US markets. He emphasised that Pakistan is already attracting foreign investment, and there are ongoing developments in terms of new and additional investments in the country.
This appeal for increased investment comes on the heels of a report from the Office of the US Trade Representative, which indicated a decline in American FDI levels in Pakistan for the year 2022. FDI projects in Pakistan amounted to $127 million in 2022, reflecting a significant 59.3% decrease in comparison to the preceding year. In contrast, Pakistani FDI in US stocks reached $144 million in 2022, although this figure still represented a 14.3% reduction compared to the previous year.
Ambassador Khan’s message underscores the potential for strengthening economic ties and collaboration between the United States and Pakistan. Despite the recent fluctuations in FDI levels, this appeal reflects a diplomatic effort to foster deeper economic connections and investments between the two countries.