By Samia Khalid ISLAMABAD, March 22 (INP-WealthPK): Pakistan’s priority sectors offer immense investment opportunities for investors. A report published by the CPEC Authority has identified six sectors that show potential and opportunities for investors through the China-Pakistan Economic Corridor (CPEC). According to the report, textile exports increased by 32% in 2021. A shift occurred because of a change in the exchange rate policy as well as competitive power and gas rates. The EU's GSP + status allows Pakistani exports to have lower duties. The output capacity has increased due to the upgrading of plants and machinery. By 2022, the textile sector has set a target of generating $20 billion in exports. Pakistan has the size and development potential to support a substantial pharmaceutical industry. In 2020, the pharmaceutical industry was expected to be worth roughly $3.2 billion, up from $1.64 billion in 2011. As a result, the value of pharmaceutical manufacturing in Pakistan might reach $5 billion by 2024–25 because of recent expansions in the public healthcare. As the local industry participates in backward integration, there are new routes for exporting plants, machinery, and equipment to Pakistan. Owing to the rising local demand, the automotive sector in Pakistan is the fastest expanding in Asia. Total automobile sales increased by 71.2% to 114,765 units in the first half of FY22, up from 67,026 units in FY21, according to the Pakistan Automotive Manufacturers Association (PAMA). In December 2021, total sales increased to 24,462 units compared to 15,351 units in November 2021. The rise of the information technology (IT) sector has been assisted by the fact that IT expenses have remained low due to low labor costs. In Pakistan, the average yearly cost of a software engineer is one-fifth of what it is in the United States and Europe. Pakistani enterprises provide cutting-edge IT goods and services all over the world, and their frequent clients include some of the world’s top corporations. Pakistan is the world’s seventh largest footwear producer, producing more than 2% of all footwear made globally. This shows that it has significant export-oriented investment potential. Low FDI in the leather and footwear industries has hampered access to new markets and inputs that may enhance the organized sector’s product diversification and vertical integration. In 2019, Pakistan sold footwear worth $135.3 million, accounting for barely 0.58% of the country's overall exports. The furniture industry is expected to grow at 5.4% CAGR from 2021 to 2027, surpassing $545.78 billion in 2020. By 2027, the industry is expected to have grown by 4.8% to 62,496.5kg in volume. The furniture business in Pakistan is mainly unorganized, with numerous small and medium-sized firms (SMEs and cottage industry). With only a minor fraction of export sales (US $3.53 million in 2020), the sector mostly serves the domestic market. The sector is projected to be worth $3 billion in total. In the agriculture sector, Pakistan is already a world leader in production of wheat, rice, cotton, sugarcane, mango, dates, and oranges. Pakistan’s environment is ideal for cultivating a wide range of crops and fruits, and the circumstances for animal husbandry are ideal. For corporate and cow farming, large expanses of lush, high-yield lands are accessible. These characteristics make a compelling commercial case for Chinese corporations to participate in Pakistan’s agriculture industry. Pakistan is a good location for these industries. In terms of infrastructure availability, special economic zones (SEZs) are open for business for investors wishing to put up units in the next two years. Availability of cheap and skilled labour as well as transportation and logistical benefits makes SEZs a very appealing option for investors. Moreover, they will be able to take advantage of the greatest potential fiscal incentives in SEZs, including skilled and affordable labour, easy access to raw materials, competitive energy prices, cheap freight costs, and privileged access to the European markets. The Investment Facilitation Centre, operated by the CPEC Authority, serves as a direct gateway for the Chinese businesses. The government authorities pay close attention to all matters involving Chinese businesses, and their problems are quickly remedied. In addition to ensuring a plug and play environment, legal empowerment for SEZ management businesses is being provided in order to give optimum convenience to investors within the SEZs.