Pakistan is becoming a more business-friendly country, as seen by its amazing rise up the international rankings in terms of improving the business environment.
The report summarizes the results of the efforts made by the researchers in assessing political, economic, cultural, and ecological investment security in countries that are part of the Belt and Road Initiative (BRI).
As per details in the report, Pakistan has reformed to simplify the process of starting a company and obtaining a construction permit, implementing a series of preferential policies in recent years.
These efforts, according to CEN, have boosted Pakistan’s ability to attract foreign investment and strengthened the ease of doing business year after year, making it one of the world’s top ten nations with the best business environment.
In terms of economic security, Pakistan’s economic security scores have increased by 220 percent during 2010, indicating an upward trend. The China-Pakistan Economic Corridor (CPEC) has significantly increased public confidence, spurred local demand, and enhanced production.
However, since 2019, Pakistan’s increased marketization of the local exchange rate has resulted in market volatility, currency depreciation, and prolonged inflation, pushing the government to hike the benchmark interest rate. Furthermore, the debt burden grew, and the country’s international sovereign rating declined.