ISLAMABAD (NNI): US businessman and Texas hedge fund manager Gentry Beach, believed to be close to American President Donald Trump, referred to Pakistan as Washington’s “front face” in the region on Wednesday, saying the future was bright for bilateral ties and economic cooperation between the two countries.
Beach, who arrived in Islamabad on Tuesday leading a high-level delegation of American investors for a two-day visit to the country, announced on Wednesday a billion-dollar investment in Pakistan.
Gentry Beach, during his meeting with investors in Islamabad. Beach said: “There exists a wide range of investment opportunities in Pakistan.” “I believe that peace and prosperity are returning. Donald Trump and the people of Pakistan share the same vision,” said Beach.
The American businessman criticized the manner Biden pulled American troops out of Pakistan, urging Islamabad to “disregard” the way the previous American administration treated it. “America cares about Pakistan. And I believe that together we can be very, very strong,” Beach said. “And we need Pakistan. You are our front face in this entire region, very important.”
“The Biden administration has maintained an inappropriate attitude for the last four years. There exist misunderstandings in the US about Pakistan. President Trump believes in economic diplomacy. This is the reason we have come here to invest billions of dollars,” he said.
The American investor said he believed the administrations in both Pakistan and the US would work together to make “a good business environment” between the two countries. “And Pakistan has something that America needs, and America has something that Pakistan needs,” Beach said. “That’s a wonderful situation for us to both be in.”
Beach said his delegation was interested in investing in Pakistan’s real estate, energy and minerals sectors. He cited Pakistan’s large reserves of gold, platinum and other precious metals. Pakistani officials estimate $6 trillion worth of natural deposits in the country.
“There exist many opportunities for investment in energy, technology, and Artificial Intelligence (AI). I am not a politician, so I cannot play any role in the relations and policies of the US administration,” said Beach.
“I am a businessman and will look to play my role in economic diplomacy. I believe that there exist many exemplary investment opportunities in Pakistan,” Beach added. He maintained: “The economy plays a major role in bridging the gap between countries.”
He also said the delegation would bring in a team of experts to evaluate Pakistan’s “underappreciated” oil and gas sector, praising the country’s existing gas infrastructure.
Beach acknowledged the interest shown by the people of Pakistan in public welfare. “We will construct low-cost and luxury houses in the real estate sector,” Beach added.
Speaking about Turkiye, Beach said: “Tall buildings in Turkiye are usually constructed faster using technology.”
He acknowledged the efforts of Finance Minister Muhammad Aurangzeb and said: “The interest rate has dropped to a significant level due to the efforts made by Pakistan’s finance minister.”
“We are going to sign various agreements with Pakistan in the next 10 days. Investing in real estate will be our topmost priority,” Beach said.
He added: “We will also invest in the mining sector on a priority basis. We have ideas to invest in different sectors.” “We will also roll out luxury products in different sectors,” said Beach. He said: “We will outsource various products, including minerals, to China.”
“No economy in the world is our enemy. However, engaging in economic activities in China has proven to be difficult,” maintained Beach.
Despite Pakistan’s challenging investment climate, the US is one of its largest sources of FDI. US companies have profitable operations across a range of sectors, notably franchise operations, fast-moving consumer goods, agribusiness, and financial services.
Other sectors attracting US interest include ICT, renewable energy and health care services. NNI
