Business tactics dictate Pakistan business must shift to Colombo, Sri Lanka urgently to keep its momentum. Troubled by political in-fighting, economic chaos and on the top of it ever growing militancy spilling over to commercial and industrial centres in many parts of Pakistan, it is time to have breathing phase, and a new location.
Economy in Pakistan has nosedived. GDP growth rate in Pakistan has fallen terribly. At 2.4% Pakistan is fifth after China, India, Sri Lanka and Bangladesh in 2011. Placed first China enjoyed tremendous growth at 9.5 % followed by India at 7.8%. Sri Lanka recorded 7.0% while Bangladesh bagged 6.3%. For various reasons Pakistan business shifting to China, India or Bangladesh is out of question. The only viable destination is Colombo where Pakistan is most welcome due to excellent and cordial relations both countries enjoy in every field.
Let us look at what Colombo can offer to Pakistan in terms of business relationship:
1. Peaceful domestic environment, favourable government policies and improved investor confidence in doing business in Colombo
2. The improved performances in all key sectors of the economy, especially trade and services that account for a 59.3% contribution to the national economy
3. Per capita income of Sri Lanka for 2011 is U S $ 2,836/- second highest in the SAARC countries after Maldives. It is forecast that Colombo will rise to number one rank in per capita income as political instability takes its toll in Maldives
4. Spurred on by vibrant business environment and the strategic location of the country the government of Sri Lanka is setting in motion a grand plan to transform Colombo into a strategically important economic centre by developing five hubs: knowledge, commercial, naval & maritime, aviation and energy
5. Sri Lanka is ranked as the most liberalized economy in south Asia. For example, foreign investors are allowed to own 100% ownership of investment
6. Sri Lanka is the only country to have Free Trade Agreements with both India and Pakistan, giving duty free access to over 1.3 billion consumers from the island. The Pakistan – Sri Lanka Free Trade Agreement (PSLFTA), which came into effect in year 2005, provides strategic access from Sri Lanka for nearly 4,500 products into the Pakistan market. Consequent to this Agreement, Sri Lanka – Pakistan trade has grown more than 300 per cent over the last few years
7. More than anything, Pakistan business can operate from Colombo to trade with the entire globe sans any restrictions.
Business Opportunity
Inquiries are welcome from prospective businessmen, buyers, developers and investors from Pakistan who wish to shift their present operations to Colombo or start a new business in Sri Lanka or buy an existing one for convenience sake. Get a piece of action in Colombo Business Centre that has morphed into a star performer in the region.
Muthu Ashraff
Business Adviser
Mobile : +94 777 265677
E-mail : cosmicgems@gmail.com
Web : http://www.cosmicgemslanka.com
Blog : http://cosmicgemslanka.com/blog/
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