USAID Seeks Karachi Chamber's Assistance to Attract FDI

A team from the United States Agency for International Development (USAID) met with the Karachi Chamber of Commerce and Industry (KCCI) on Thursday to discuss the Pakistan Investment Pipeline Program.

The program is designed to attract foreign direct investment (FDI) into Pakistan by connecting Pakistani firms with international investors.

The USAID team said that the program is open to registered Pakistani firms from a variety of sectors, including information and communication technology, agri-tech business and processing, manufacturing, and hospitality and tourism. The deadline for submitting applications is June 30, 2023.

KCCI President Mohammed Tariq Yousuf welcomed the program and said that the chamber would do its best to disseminate information about it among its members. He also requested the USAID team to consider extending the deadline for submitting applications.

The USAID team said that they would consider the request. They also said that they would be holding three roadshows in Dubai, San Francisco, and Saudi Arabia in July 2023 to connect shortlisted Pakistani firms with foreign investors.

The Pakistan Investment Pipeline Program is part of the USAID Investment Promotion Activity, which is a five-year project that is helping to strengthen Pakistan’s business enabling environment, build capacities of Pakistani institutions focused on investment promotion, improve FDI ecosystem, and increase US-Pakistan bilateral trade and investment.

The project is helping to remove barriers to investment and trade by facilitating Pakistani-led improvements in government regulations and improving the overall investment climate.

The USAID team thanked KCCI for its support and said that they were confident that the Pakistan Investment Pipeline Program would be a success.