Kuwaiti investors asked to cash in on opportunities in Pakistan

Published: March 7, 2018
Minister of State Naeem Y Zamindar

Minister of State Naeem Y Zamindar PHOTO: FACEBOOK

ISLAMABAD: Minister of State Naeem Y Zamindar has invited Kuwaiti investors to take advantage of lucrative investment opportunities existing in different sectors of Pakistan’s economy and assured them that the Board of Investment (BoI) will offer all kind of facilitation.

Speaking to members of the Kuwaiti business community, Zamindar, who is the BoI chairperson, said the government was committed to making Pakistan a business-friendly country.

“Foreign investment in Pakistan is protected by rigorous laws and foreign direct investment regulations allow full repatriation of capital and profits,” he added.

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He made the remarks while heading a high-level delegation, comprising senior government officials, head of the provincial BoI and leading Pakistani businessmen, which were visiting Kuwait on the directives of the prime minister.

Highlighting the positive features, he said Pakistan’s location on the cusp of important economic regions, young population and skilled labour force supported by a very rapidly growing technology infrastructure made it a very attractive destination for investment not only for the domestic investors, but also as a production and export hub for the rest of the world.

Zamindar informed Kuwaiti businessmen that the number of mobile phone users in Pakistan had increased significantly between 2003 and 2008 while the number of bank accountholders was expected to rise eight times to 80% in the next three years.

He emphasised that through facilitation and incentives, including one-window operation and Special Economic Zones (SEZs), Kuwait’s companies would find Pakistan a favourable investment destination.

The minister revealed that Pakistan was aiming for 9% economic growth by 2020, adding PricewaterhouseCoopers had projected that Pakistan would be joining the G20 by 2030.

Speaking at the Pak-Kuwait Investment Conference held in Kuwait, Sindh Board of Investment (SBI) Chairperson Naheed Memon said Pakistan offered excellent long-term investment opportunities.

She said one of the objectives of the visit was to create awareness among Kuwaiti investors of the investment opportunities in the rapidly expanding markets of Pakistan.

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Memon emphasised that good investment opportunities were available in Pakistan and Kuwait in energy, infrastructure, health, tourism, hospitality, agriculture, transportation, food and other sectors.

She also informed the participants about the SEZs in Khairpur, Bin Qasim and Korangi as well as the importance of Dhabeji Special Economic Zone, which had been included in the China-Pakistan Economic Corridor (CPEC).

The investors expressed interest in investment in the Nooriabad Industrial Park and agreed to hold more meetings in that regard.

Published in The Express Tribune, March 7th, 2018.

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