Shahzaz ud din
SENIOR MEMBER
- Joined
- Jun 12, 2017
- Messages
- 7,877
- Reaction score
- 14
- Country
- Location
Islamabad secures $2 bn investment from Pakistani business group in UAE - Arab News
KARACHI: Overseas nationals are the new front for luring foreign investors to Pakistan with more than $2 billion expected to be pumped into various sectors of the country, according to officials.
“We have arranged meetings with the top officials of Pakistan — including the governor of Punjab — with potential Egyptian, Malaysian and Dutch investors who have solid plans of initially investing $2 billion in Pakistan,” Iqbal Dawood, President of Dubai-based Pakistan Business Council (PBC) told Arab News over the phone on Wednesday.
Soon after assuming office, Pakistan’s Prime Minister Imran Khan had embarked on a maiden visit to Saudi Arabia. The Kingdom responded in kind by extending more than $6 billion toward a bailout package with pledges for additional investments.
Saudi Arabia is expected to sign investment deals worth $15 billion during Crown Prince Mohammed Bin Salman’s upcoming visit to the country.
Pakistan is hoping to secure more funds through foreign direct investments after emerging victorious from the grips of terrorism which had wrecked havoc since early 2000. “With the improving law and order situation, the country is gaining the confidence of the international business community,” Professor Dr. Athar Ahmed, an expert on international marketing and image building, told Arab News.
With Saudi investments, other countries are following suit too and are encouraged to explore the various opportunities in Pakistan, professor Ahmed said.
“There are a number of potential investors. Some are Egyptians and Malaysian and Dutch while locals are also on board. Negotiations... are at an advanced level,” Dawood said.
“They want an exchange of delegations with Pakistan for this purpose and we are planning....a visit to Egypt following which there delegation would visit Pakistan,” Dawood said.
Egyptians are keen to invest in Pakistan’s mining sector which lacks modern technology. “They are saying that their technology in marble extraction and finishing is too good. Pakistan uses dynamite for extraction of marble but they have modern equipment which could be utilized to minimize the losses,” Dawood said.
He added that, initially, four to five sectors have been cleared for investment “from our side and now it is upto the government to take up the matter to facilitate them”.
Apart from mining; construction, chemicals, and hospitality are some of the other sectors that the investors have expressed an interest in, Dawood said.
Analysts believe that after the initiation of the multibillion dollar China Pakistan Economic Corridor (CPEC) project, the country is open to foreign investment. “More and more people want to come to Pakistan but we need to handle it in a better manner by taking confidence-building measures and offering them lucrative incentives,” Ahmed said.
PBC Dubai consists of a large group of Pakistani businessmen and investors who are based in the UAE. The group is dedicated to promoting trade and investments by facilitating direct interaction between dignitaries from the public and private sectors of the UAE, Pakistan and other countries.
Source
Advertisement
KARACHI: Overseas nationals are the new front for luring foreign investors to Pakistan with more than $2 billion expected to be pumped into various sectors of the country, according to officials.
“We have arranged meetings with the top officials of Pakistan — including the governor of Punjab — with potential Egyptian, Malaysian and Dutch investors who have solid plans of initially investing $2 billion in Pakistan,” Iqbal Dawood, President of Dubai-based Pakistan Business Council (PBC) told Arab News over the phone on Wednesday.
Soon after assuming office, Pakistan’s Prime Minister Imran Khan had embarked on a maiden visit to Saudi Arabia. The Kingdom responded in kind by extending more than $6 billion toward a bailout package with pledges for additional investments.
Saudi Arabia is expected to sign investment deals worth $15 billion during Crown Prince Mohammed Bin Salman’s upcoming visit to the country.
Pakistan is hoping to secure more funds through foreign direct investments after emerging victorious from the grips of terrorism which had wrecked havoc since early 2000. “With the improving law and order situation, the country is gaining the confidence of the international business community,” Professor Dr. Athar Ahmed, an expert on international marketing and image building, told Arab News.
With Saudi investments, other countries are following suit too and are encouraged to explore the various opportunities in Pakistan, professor Ahmed said.
“There are a number of potential investors. Some are Egyptians and Malaysian and Dutch while locals are also on board. Negotiations... are at an advanced level,” Dawood said.
“They want an exchange of delegations with Pakistan for this purpose and we are planning....a visit to Egypt following which there delegation would visit Pakistan,” Dawood said.
Egyptians are keen to invest in Pakistan’s mining sector which lacks modern technology. “They are saying that their technology in marble extraction and finishing is too good. Pakistan uses dynamite for extraction of marble but they have modern equipment which could be utilized to minimize the losses,” Dawood said.
He added that, initially, four to five sectors have been cleared for investment “from our side and now it is upto the government to take up the matter to facilitate them”.
Apart from mining; construction, chemicals, and hospitality are some of the other sectors that the investors have expressed an interest in, Dawood said.
Analysts believe that after the initiation of the multibillion dollar China Pakistan Economic Corridor (CPEC) project, the country is open to foreign investment. “More and more people want to come to Pakistan but we need to handle it in a better manner by taking confidence-building measures and offering them lucrative incentives,” Ahmed said.
PBC Dubai consists of a large group of Pakistani businessmen and investors who are based in the UAE. The group is dedicated to promoting trade and investments by facilitating direct interaction between dignitaries from the public and private sectors of the UAE, Pakistan and other countries.
Source
Advertisement
