Pakistan Prime Minister Shahid Khaqan Abbasi on Wednesday said that with the help of One Belt and One Road initiative (OBOR), his country has gained great investor confidence.
Addressing a panel at the World Economic Forum in Davos, Swizerland abbasi said that OBOR was the flag bearer of financial stability and despite core plants coming in the investors have ensured that the projects were environmentally sustainable, adding that it was important that these projects were inclusive.
The panel was attended by Asian Infrastructure Investment Bank (AIIB) President Jin Liqun, Caixin Global Managing Director Li Xin, Russian Direct Investment Fund CEO Kirill Dmitriev, AECOM CEO and Chairman Michael Burke, Singapore Minister Chan Chun Sing and China National Machinery Industry Corp Chairman Ren Hongbin.
Mr Abbasi said that there is much more than just the infrastructure on ground. “Of course there are bilateral constraints but they should be available to local players,” he stated.
Hopefully what may seem like a white elephant today would turn out to be more efficient utilisation of resources. PM Abbasi said that governments are known for non primal utilisation and we are very cognisant of that.
Pakistan through its port development can provide much more efficient connectivity to most of Central Asia. Complementary policies and greater utilisation of resources will eventually create much greater financial stability.