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SAZH-TAF Report on FDI

Trust System - Certification & Training

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The key policy takeaway from our members concerning this issue was to improve capacity of local talent and spread competition, with trainings and infrastructure building. Some of them agreed to assist in the private venture of starting an investment protection pipeline that would have a database on all the experts including lawyers, accountants, etc. and the pipeline would conduct certifications and training. For example, a system should be developed where these experts could train young lawyers and give them certifications so that those young and relatively cheaper lawyers could give legal advice to small investors. This would not only promote employment but also aid in capacity building.

 

Capacity building should be the priority in Pakistan for training lawyers. Apart from being LLB or LLM graduates, we need to have people who have other expertise. People need to be trained in the State Bank’s policies or the SECP’s policies, on the Foreign Exchange Manual, Company Registration, share transfers, Real Estate transactions etc. so that we can build a trust ecosystem for the investors. Continuing Professional Development is mandatory in most healthy and strong jurisdictions where a thriving private sector demands modernized skillsets. That should also be the case in Pakistan.

 

 Our experts who spanned from accounting, to law, to business, to bureaucracy and corporate governance, shared an interest in developing the skillsets of the professionals. It was heavily remarked that the best export that Pakistan can rely on in the short term would be human resources, and we should create avenues to train our workforce in every marketable skillset.

 

 Hence a database of experts that have been certified and trained in various skills and facets necessary for investors should be presented as part of the Trust System


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