Two-day Pakistan Fast Growth 100 Summit
Economic challenges solution lies in entrepreneurial talent: speakers
LAHORE: The solution to Pakistan’s economic challenges lies in the entrepreneurial talent of its own citizens and dynamic entrepreneurs represent a new bright future for Pakistan. Pakistan has immense potential and offers best returns on the investment hence Pakistan would soon be a destination of investors from around the world, said speakers of the Two-Day AllWorld Pakistan 100 Summit held here in Lahore.
US Chargé d’ Affaires Ambassador Richard Hoagland, US Consul General in Lahore Nina Maria Fite, Securities and Exchange Commission of Pakistan (SECP) Chairman Muhammad Ali, Nishat Group Chairman Mian Mansha, Dawood Hercules Corporation Chairman Hussain Dawood and Pakistan Business Council Chairman and Engro Corporation CEO Asad Umar attended the two-day event.
Talking to the entrepreneurs in Pakistan Richard Hoagland expressed his appreciation for fastest growing entrepreneurial companies who achieved exponential growth in the last few years. He advised Pakistani business community to lobby with its government to have strong legislation for the investors’ protection to ensure better environment for doing business.
He said that Central Asian states offer immense opportunities for Pakistani investors and Pakistani businesses should also take advantage of the same.
SECP Chairman Muhammad Ali said that SECP was working on detailed guidelines for the function of corporate social responsibility in the country in order to help the corporate sector helping the society back in a better manner. He said that success of Pakistani entrepreneurs was a testimony of the great potential this country possesses and how talented its human resources are. He appreciated the idea of having Pakistan 100 summit that seeks to highlight the success and achievements of resilient Pakistani entrepreneurs.
Dawood emphasised the need of having solid values for the successful business. He said that a business based on solid ethical values is bound to grow faster and is beneficial for the society at large.
Mansha said that Pakistani businesses need to venture out of the country and invest in potential markets like Africa too. He said that in next two decades the world would be at our doorstep to eagerly invest in Pakistan.
Cyan Limited CEO Samad Dawood said that the Pakistan100 are a testament to the zeal and passion of the Pakistani private sector. Their accomplishment is even more impressive given the challenges that they have had to endure in the recent years.
AllWorld Network also announced the winners of the Pakistan Fast Growth 100 (Pakistan100), a ranking of the fastest growing non-listed companies in Pakistan.
Leading the Pakistan100 is number 1 company e2e Supply Chain Management, which grew 1,918 percent between 2008 and 2010, with 2010 revenues above $50 million and 297 employees. Launched in 2005, e2e has risen to become one of the most successful end-to-end logistics companies covering Pakistan and Afghanistan. Taking the second spot for Pakistan was Exceed Private Limited, with a growth rate of 1,320 percent and 90 employees. Founded by the youngest entrepreneur on the Pakistan100, Exceed rose to prominence for its historic restoration of Saidpur Model Village, redeveloped as an 18th Century city-museum with 5,000 residents.
Commenting on the success of Pakistan100 at the Awards Ceremony, AllWorld co-founders Deirdre Coyle and Anne Habiby urged the Pakistan100 to go further when no one expected much, the Pakistan100 broke records for growth, transparency and competitiveness.
In the middle of challenging political and economic circumstances, the Pakistan100 broke many AllWorld records in relation to 15 other countries rankings in the region, coming in only second to Turkey in terms of entrepreneurial growth and transparency. Many of the companies have been founded in the last 10 years, and have already grown to be industry leaders. An average of only 42 years old, most Pakistan100 entrepreneurs plan to establish another company in the next two years.
The Pakistan100 is a programme of AllWorld Network in partnership with Harvard Business School Professor Michael Porter and presented by Cyan Limited.