ISLAMABAD: The Special Economic Zones offer multiple business opportunities for investors, which the Italian companies could also look into, said Finance Minister Ishaq Dar, during a meeting with the Italian business delegation.
The senior executives of reputed Italian firms, on the occasion, shared their plans for possible investment in different sectors including the automotive industry, oil and gas, agriculture, security and aviation.
According to the delegates, following the recently announced auto policy 2016 by the government, Italian automotive companies were keenly looking for investment opportunities in the sector.
The Italian Ministry of Foreign Affairs Director General Carlo Formosa said lately a lot of Pakistanis have been visiting Italy to explore opportunities. “Italy has the desire to see resurgence of Italian brands in Pakistan.”
Dar welcomed the investment plans of the Italian companies and assured all possible cooperation by the government.
He also expressed gratitude to the Italian Ministry of Foreign Affairs for supporting and providing assistance for the recent ‘Pakistan Trade and Investment Forum’ held in Italy earlier this month.
“There are also opportunities to relocate the manufacturing sector from other areas and regions where it was no long competitive,” said Dar, inviting the Italians to explore the renewable energy, auto and agriculture machinery sectors.
The Board of Investment, Ministry of Industries and the Ministry of Petroleum and Natural Resources were also directed to maintain close liaison with the delegates and provide them investment guidance wherever necessary.
Meeting with Board of Investment
The Italian delegation also met the Minister of State for the Board of Investment Dr Miftah Ismail to discuss various investment opportunities in the country.
CNH Industrial Pakistan Business Director Zeeshan Yousaf said the company wanted to introduce combined harvesting agriculture in Pakistan and had already met Minister of National Food Security and Research Sikandar Hayat Bosan.
“We also want to repower the truck fleet in Pakistan with our new Fiat technology, in which we would provide technical expertise in local assembly plants,” said Yousaf.
Also among the delegates, ENI Managing Director expressed interest in investing in the alternative energy sector.
Published in The Express Tribune, April 22nd, 2016.