PAKISTAN`s approach to attracting foreign direct investment (FDI) should be mainly industry-specific. Increasing the FDI can boost private-sectormanuf acturing. This could, in return, create jobs and reduce unemployment.

Backward areas could be developed, new technologies can amplif y the local economy, exchange rates can remain stable, and overall exports can become better.

The government needs to do proper homework regarding the industries it thinks it can project at the international level. The CPEC can play an important role in this regard. The Chinese are looking for long-term investment prospects here, and thereisareasontheyhave agreedtoinvest such a huge amount in Pakistan.

We can use the CPEC to attract FDI from other countries too. We can show them that there is more to investing in Pakistan than building infrastructure. We can start by attracting multinationals to establishtheirregionalofhceshere.

We can convince them that they will get solid returns on their investments in the Pakistani market. It will not only create ample job opportunities for the locals, but will also create a soft image of Pakistan globally which we can then use to attract the other key players.

Kahfil Soomro Larkana