Vanessa O’ Brien has been a prominent financial expert and business executive for years. But economics is not the only area of her expertise. She is a seasoned mountaineer, the first American woman to surmount K-2 – the world’s second highest peak – and she has known Pakistan, its economy and people closely.
Last weekend, Ms. O’Brien featured as a speaker at Pakistan American Business Association‘s Expo and Business Conference in a Washington suburb.
She saw the Pakistani economy bouncing back after a period of stagnation due to political transition and current account deficit.
Now with the International Monetary Fund’s vote of confidence and building of new infrastructures, Pakistan is regaining its growth momentum, the stock exchange is climbing up from a low, and the country is open to useful international investments, she explained at the event “Building Trust through Trade.”
“There is a new IMF package, so that’s building. The CPEC (China Pakistan Economic Corridor) is part of that building with infrastructure.
“Each time, there is investment taking place, there is opportunities. So, you are going to see a big difference, a big change, a lot of investors coming in, and a lot of investment opportunities starting to blossom like seeds that are planting, and blossoms that are starting to hold and take place. It’s going to be great,” Ms O’ Brien told Views and News.
The event took coincided with Pakistan’s upbeat economic numbers. The 25th largest economy in the world – strategically located at the confluence of South Asian, China, Central Asia and energy-rich Gulf, chalked up a string of hopeful macroeconomic indicators after months of uncertainty.
Prime Minister Imran Khan has introduced measures to attract foreign investment into energy, infrastructure and services sectors.
In a sign of recognition, Pakistan’s immense economic and trade possibilities, the Expo had the support of some leading American banks and companies.
O’ Brien was among the business leaders who supported PABA’s Expo event, where Pakistani and American entrepreneurs networked and took part in a series of discussions.
“It was a great success. We were able to showcase Pakistan’s lucrative business potential, and also had candid conversations on further easing investment inflows into Pakistan,” Siddique Sheikh, PABA founder and president, said.
The event featured leading Pakistani companies including Forward Sports – the manufacturer of globally popular Brazuka soccer balls – but it did not see participation of as many Pakistan-based entrepreneurs as the organizers had hoped for.
Participants with host Siddique Sheikh
Nevertheless, a robust participation of U.S. and Virginia lawmakers, policymakers, county executives, chamber leaders of DMV areas, American enrepreneurs and experts reflected the hard work the organizers had put in and the willingness of American traders to expand trade ties with Pakistan.
“We are striving for more and more Pakistani entrepreneurs and innovators to take part in our events, and look forward to building on the success of this Expo and Conference,” Sheikh, who received accolades from former Virginia Governor George Allen and Chairman Fairfax County Sharon Bulowa at the event, said.
Professor James Witte, head of GMU’s Institute of Immigration Studies, and Sajjad Qamar, a New York-based senior manager in Ernst & Young LLP’s Financial Services, anchored the discussions.
Witte recounted his first-hand observations during a recent visit to Pakistan, and praised the country and its people for their hospitality and ability to achieve excellence in business and entrepreneurship.
Qamar, who is a PABA board member said the the event provided a platform to American and Pakistani entrepreneurs to explore opportunities in a host of business areas. While American businesses can avail tremendous opportunities in Pakistan, the South Asian country, in turn, can learn from American technology and modern skills, he noted.
Pakistan’s Ambassador to the United States Asad M Khan lauded the initiative during an audience with organizers at the country’s embassy in D.C. while Rizwan Shaikh, Deputy Chief of the Mission, attended the event.
Speaking at the Expo, Andrew Hall, Managing Director NASDAQ New Listings listed ways, the Pakistani entrepreneurs could have a profitable relationship with the stock market. The event brought together policymakers, entrepreneurs and experts including Rob Wittman, VA Congressman, Luis G Lobbo, Executive Vice President Multicultural Banking, BB&T, Debbie Williams, President and CEO of Prince William County Chamber of Commerce, Mahveen Azam, Program Manager for the School of International Service.
