Pakistan ranks top 10 in business environment: Chinese report

Read Also | State keen to talk to Baloch insurgents: Chaudhary

The Annual Report on Investment Security of China’s Belt and Road Construction (2021) was laid forth jointly by Beijing International Studies University, China Belt and Road Think Tank Cooperation Alliance, and other institutions.

The report tells about the fruits of researches on the economic, political, cultural, social, and ecological investment security in countries along China’s Belt and Road Initiative (BRI).

As per the report, the process of starting a company, obtaining a construction permit and implementing a series of preferential policies have been reformed in recent years.

These measures have improved its ability to attract foreign investment and strengthened the ease of doing business year by year – making Pakistan one of the world’s top 10 economies with the most improved business environment, said the China Economic Net (CEN).

Read Also | State keen to talk to Baloch insurgents: Chaudhary

The report, in terms of political security, said that South Asia as a whole is affected by the superpower game greatly.

Similarly, the report said that the long-running conflict between Pakistan and India has also intensified pressures on political security in the region. The dispute over Kashmir poses a long-standing risk of war.

From the view of economic security, Pakistan’s financial security went up by 220 per cent in 2019 compared to 2010, signifying an overall trend of growth.

The construction of the CPEC has boosted public confidence, spurred domestic demand, and driven production to a great extent.

It merits a mention that since 2019, the expedited marketisation of the national exchange rate in Pakistan has led to fluctuations in the market, currency devaluation, and sustained inflation – forcing the government to spike the benchmark interest rate. With this, the debt burden increased and the international sovereign rating lowered.

Pakistan’s social security is rated in between the middle and low levels. The report mentions that constant terrorist attacks in Pakistan have led to massive social unrest.

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