OICCI (Overseas Investors Chamber of Commerce and Industry)

The Overseas Investors Chamber of Commerce and Industry works to encourage the growth of Pakistan. 1/3rd of Pakistan’s tax revenue is generated by 200+ OICCI members. #OICCI #OICCIOfficial #chamberofcommerce #BusinessAndFinance #foreigninvestment #businessinsights #OverseasInvestors #BusinessInsights #InvestmentInPakistan 

OICCI pays tribute to the man who transformed hope into a nation. On the 148th Birth Anniversary of Muhammad Ali Jinnah, we celebrate his enduring vision and the monumental legacy he left behind. #QuaidDay #MuhammadAliJinnah #FatherOfTheNation #LegacyOfLeadership

Khawaja Aftab Ahmed, IFC - International Finance Corporation Regional Director for the Middle East, Pakistan, and Afghanistan, visited the Overseas Investors Chamber of Commerce and Industry (OICCI) for a discussion on promoting Diversity & Inclusion in Pakistan, on Monday, December 23, 2024. He was accompanied by Naz Khan, Principal Country Officer Pakistan at IFC - International Finance Corporation. Mr. Ahmad was welcomed by OICCI President Yousaf Hussain. The meeting was also attended by ex-President OICCI and CEO Unilever Amir Paracha, Citi Country Manager Pakistan Ahmed Bozai, CEO Dawlance Umar Ahsan Khan, OICCI Secretary General M Abdul Aleem, President NOWPDP Amin Hashwani, and Executive Director OICCI Kashif Shafi. OICCI Secretary General M Abdul Aleem gave a brief introduction of OICCI, an overview of its members, areas of focus as well as value addition and contribution to economy. OICCI’s efforts to drive impactful Diversity & Inclusion initiatives through strategic collaborations and various activities were also highlighted. Members of the Managing Committee took the opportunity to shed light on the best practices adopted by their respective organisations. Amin Hashwani also apprised the participants of the activities undertaken by NOWPDP for a more inclusive society by helping persons with disabilities, making them contributing members of the society. Mr. Ahmad also shared valuable insights into global best practices, sparking ideas on how Pakistan can adopt successful models from other regions. #DiversityAndInclusion #OICCI #Sustainability #GenderEquality

Pakistan ranks 68th in Huawei’s Global Digitalization Index 2024, highlighting weaknesses in connectivity and digital infrastructure that hinder its progress in the Fourth Industrial Revolution. In comparison, Singapore (2nd), Malaysia (28th), and India (48th) are better positioned to leverage digital opportunities, making it essential for Pakistan to invest in digital infrastructure and skills development to meet its $25 billion IT export target. Pakistan's IT sector, driven by its young workforce, could add Rs. 2.8 trillion to the GDP and unlock Rs. 1 trillion in digital exports by 2030. However, over 80% of IT graduates lack the necessary technical skills, and 72% of the workforce sees basic digital skills as crucial for employment. Key opportunities include developing digital solutions, leveraging e-commerce and AI for market access, and streamlining export processes with advanced technologies. Learning from successful Asian Tigers, such as Thailand, Vietnam, Indonesia, and Malaysia, Pakistan can transform its IT sector with targeted digital skills programs and infrastructure investments. Since 2014, Pakistan’s IT services exports have increased 2.7 times, accounting for 35% of total service-sector exports, with significant growth potential if the sector is prioritized. #EmpoweringPakistanWithData #OICCIPakistan #Economy #SoftwarePark #Pakistan2050 #Economy #Investment #SustainableDevelopment #Innovation #IT #Exports

Jazz, an OICCI member company, has been a pioneer in promoting inclusion and accessibility, hiring its first PWD employee, Azmat Amin Nizami, in 1997. Azmat’s journey reflects JAZZ’s dedication to creating a supportive and inclusive workplace. From addressing his commuting challenges by providing a car to equipping him with accessible technology like screen-reading software, JAZZ ensured he could thrive professionally. Azmat shares how he has always been treated with dignity, proving that true inclusion means valuing abilities over limitations. By breaking barriers and prioritizing accessibility, JAZZ continues to set the standard for empowering diverse talent and building an equitable workforce. #JAZZ #Inclusion #Diversity #Empowerment #Accessibility #OICCI

𝗢𝗜𝗖𝗖𝗜 𝗦𝘁𝗮𝘁𝗲𝗺𝗲𝗻𝘁 𝗼𝗻 𝗧𝗮𝘅 𝗕𝗶𝗹𝗹 𝗔𝗺𝗲𝗻𝗱𝗺𝗲𝗻𝘁𝘀 The introduction of Tax Laws (Amendment) Bill 2024 by Finance Minister Muhammad Aurangzeb in the National Assembly to bring the informal sector into the tax net is a positive step. It promises to broaden the tax base, and strengthen documentation of economy, priorities OICCI strongly supports. However, the true measure of success lies in the strict and effective imposition of these reforms. While the bill represents a significant step towards strengthening the tax system and encouraging broader compliance, the onus lies on the government functionaries to ensure it is implemented in letter and spirit. #TaxReforms #BroadeningTaxBase #OICCI Ministry of Finance, Government of Pakistan Federal Board of Revenue (FBR)

𝗢𝗜𝗖𝗖𝗜 𝗛𝗼𝘀𝘁𝘀 𝗙𝗕𝗥 𝗜𝗻𝗹𝗮𝗻𝗱 𝗥𝗲𝘃𝗲𝗻𝘂𝗲 𝗦𝗲𝗿𝘃𝗶𝗰𝗲 𝗢𝗳𝗳𝗶𝗰𝗲𝗿𝘀 𝗳𝗼𝗿 𝗦𝗲𝘀𝘀𝗶𝗼𝗻 𝗼𝗻 𝗙𝗗𝗜 𝗮𝗻𝗱 𝗧𝗮𝘅𝗮𝘁𝗶𝗼𝗻 The Overseas Investors Chamber of Commerce and Industry (OICCI) hosted a specialized session for 42 officers from the Inland Revenue Service as part of the Federal Board of Revenue (FBR) 51st Specialized Training Program. The session, led by OICCI CE/Secretary-General M Abdul Aleem, aimed to provide an in-depth understanding of foreign direct investment (FDI) in Pakistan, the imperative for tax reforms and the improvement of the country’s business climate. 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: 𝗢𝗜𝗖𝗖𝗜’𝘀 𝗟𝗲𝗴𝗮𝗰𝘆 𝗮𝗻𝗱 𝗜𝗺𝗽𝗮𝗰𝘁: Established in 1860, OICCI represents over 200 multinational companies from 30+ countries across 14 sectors. In the past decade, members have invested $23 billion, contributed $40 billion in revenue, and paid $9.2 billion in taxes. CSR initiatives have directly benefited 40 million people. 𝗙𝗗𝗜 𝗧𝗿𝗲𝗻𝗱𝘀 𝗮𝗻𝗱 𝗖𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀: Discussions covered FDI categories — market-seeking, resource-seeking, and strategic asset-seeking investments — with an emphasis on addressing barriers such as inflation, currency volatility, and security concerns, especially in resource-rich regions like Balochistan. 𝗧𝗮𝘅 𝗥𝗲𝗳𝗼𝗿𝗺 𝗣𝗿𝗼𝗽𝗼𝘀𝗮𝗹𝘀: OICCI advocated for broadening the tax base to include agriculture and real estate, simplifying the withholding tax regime, and harmonizing federal and provincial tax policies. Leveraging AI and digitization to streamline compliance was also emphasized. 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗖𝗹𝗶𝗺𝗮𝘁𝗲: OICCI’s Business Confidence Index showed modest improvement but highlighted persistent concerns, such as high energy costs, economic uncertainty, and policy inconsistency. Growing dissatisfaction is primarily driven by economic challenges, tax fairness issues, frequent audits, and governance inefficiencies. 𝗢𝗜𝗖𝗖𝗜’𝘀 𝗕𝗿𝗼𝗮𝗱𝗲𝗿 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲𝘀: OICCI’s focus extends to improving gender diversity, promoting intellectual property rights, driving digital transformation, sustainability and climate advocacy. These initiatives are essential for encouraging business growth and innovation while ensuring Pakistan remains competitive and aligned with global best practices and standards. The interactive Q&A session facilitated productive dialogue, with participants acknowledging OICCI’s vital role in fostering economic progress. Kashif Shafi, Executive Director at OICCI, and Aman Ghanchi, Executive Director Legal & Company Secretary at Unilever Pakistan were also present to share their expertise and engage with attendees.   FBR Commissioner Noman Malik praised OICCI’s contributions, highlighting its role in improving investment conditions and supporting key policy reforms. OICCI is committed to driving initiatives that promote economic growth and enhance Pakistan’s business environment.

State Bank of Pakistan (SBP)’s announcement of FDI for the first five months of FY25 to November 2024, reaching at $1.1 billion reflects a significant growth of over 30 percent in comparison for the same period last year. China, Hong Kong SAR, and UK contributed about two-thirds of the FDI mainly in the Power, Financial Business and Oil & Gas Explorations sectors. The OICCI recommends authorities to further facilitate FDI in more progressive and high value sectors like IT, renewable energy, electronics, and agro-processing by leveraging Pakistan’s strategic location. There is also a need to substantially promote regional trade to further improve the country’s Balance of Trade (BOT) and Balance of Payments (BOP) position and create broader market access by facilitating ease of doing business for investors.

The Overseas Investors Chamber of Commerce and Industry (OICCI) recently hosted Admiral (Retd) M Asif Sandila, along with Commodore (R) Syed M. Obaidullah SI(M), TI(M) and his team. The visit focused on enhancing collaboration between key stakeholders in Pakistan’s economic landscape. The delegation discussed the Chamber’s ongoing activities and events, emphasizing its pivotal role in driving investment and innovation in the country. The visit exemplifies the shared commitment to strengthening Pakistan’s economy through meaningful dialogue and partnerships. The OICCI appreciates the delegation for sharing valuable perspectives and looks forward to potentially exploring opportunities to support Pakistan’s economic progress. M Abdul Aleem Kashif Shafi #OICCI #LeadershipInAction #CollaborationForGrowth #EconomicLeadership #DrivingInnovation #PartnershipsForProgress

This year’s OICCI 2nd Diversity & Inclusion Conference 2024 marked a powerful step forward in fostering an inclusive and sustainable future, aligning with the International Day of Persons with Disabilities. Themed “Amplifying the Leadership of Persons with Disabilities for an Inclusive, Sustainable Future,” the event brought together CEOs, HR leaders, policymakers, and changemakers to engage in impactful conversations around: 🔹 Overcoming barriers to PWD employment 🔹 Enhancing HR policies and inclusive recruitment practices 🔹 Improving workplace accessibility 🔹 Strengthening public-private partnerships for policy reforms From inspiring keynote speeches to thought-provoking panel discussions, the conference shed light on the power of neurodiversity, personal resilience, and actionable strategies to build equitable workplaces. Speakers like Ahmed Bozai (Chair OICCI D&I Subcommittee), Sadia Salman (CEO, DIET BY DESIGN), Salman Elahi (BINAE EDUCATION FOUNDATION), Arslan Ahmed (Standard Chartered), and a dynamic panel of experts emphasized how inclusivity drives innovation, progress, and collective growth. As the event concluded, a resounding call to action was made: Let’s lead by example, celebrate diversity, and work towards a future where every individual has the opportunity to thrive. #DiversityAndInclusion #OICCI #PWDInclusion #EquityForAll #InclusiveLeadership #AccessibleWorkplace #InclusiveFuture #LeadershipInDiversity