FDI, Intelligence division of the Financial Times has conducted a research FDI’s Asia-Pacific Cities of the Future 2017-18, to evaluate the economic projections of the cities in the very region. According to the results, Karachi from Pakistan has managed to secure 7th position under the FDI strategy category. The ranking of Karachi in 2015-16 was 14th in the top 15 Asia-Pacific Cities of the Future survey. However, this time around, the city has jumped to 7th position.
The President of KCCI, Muffasar Atta Malik said in a statement:
“Due to painstaking efforts and strong determination, we have been ranked seventh in terms of FDI Strategy”
He further went on saying:
“Karachi Chamber first participated in fDi Intelligence survey last year by providing valuable inputs about Karachi. Consequently, our city managed to secure the 14th position in the top 15 Asia-Pacific Cities of the Future 2015-16 – FDI Strategy, which has greatly improved this year”
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In terms of cost effectiveness in the list of top 5 Asia-Pacific Mega Cities of the future 2018, Karachi is placed at No. 4 position. Another city of Pakistan, Lahore also managed to secured 5th position in this category.
While acknowledging the energies of his R&D department for providing reliable data to FDI Intelligence, the president said it helped clearing the misconceptions of the people about Karachi besides securing a noteworthy position in the ranking. He said:
“KCCI has been struggling hard for the past many years to promote the positive image of Karachi. Moreover, we are also trying to highlight it as the right destination for foreign investment”
Muffasar is also hopeful that Karachi would be able to secure higher ranking in the future courtesy increased foreign investment in the city.
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Global ranking
As per the survey results, these are the global ranking:
- Perth, Australia
- Brisbane, Australia
- Hong Kong
- Auckland, New Zealand
- Wuxi, China
- Melbourne, Australia
- Karachi, Pakistan
- Yokohama, Japan
- Newcastle, Australia
- Osaka, Japan
According to Muffasar Malik, Karachi has surpassed many prestigious cities across the globe including Yokohama, Newcastle and Osaka as these countries are ranked 8th, 9th and 10th respectively.
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Top 10 Asia-Pacific Cities of the Future 2017-18
In terms of overall ranking, Singapore led the chart as Asia-Pacific city of the future. It was followed by Tokyo (2nd) and Hong Kong (3rd). Seoul managed to get the 4th position, Shanghai (5th), Taipei (6th), Beijing (7th), Sydney (8th), Osaka (9th), and Kuala Lumpur came in at 10th position.
FDI Intelligence secured the data by using specialized online tools FDI Markets and FDI Benchmarks. As many as 163 locations were analyzed by the FDI Intelligence.
