South Korea ready to invest in power sector
South Korean Ambassador in Pakistan Choongjoo Choi has said that Korean companies are all set to make investment in Pakistan’s power sector. The ambassador was speaking at the Lahore Chamber of Commerce and Industry (LCCI).
On the occasion, the ambassador said that more and more Korean companies are showing their interest for investment in energy sector to help Pakistan overcome the acute energy shortage it has been facing for long.
He said that Korea’s trade with India stands at $16 billion which will be doubled in a few years, it is $1 billion a day with China while bilateral trade with Pakistan is mere $1.1 billion.
He, however, expressed the optimism that the volume of trade between Pakistan and South Korea is bound to increase as both the governments and the private sector, in the two countries, are taking measures to get the desired results.
He said that the non-availability of required trade-related information was the biggest hurdle in the way of South Korean investment in Pakistan.
The diplomat while identifying a number of areas for mutual cooperation said that there was a need for expertise sharing as both countries have a lot to learn from each other.
He said that there is a big potential in Small and Medium Enterprises (SME) sector therefore Pakistani business community could avail opportunities in this particular area.
Published in The Express Tribune, August 4th, 2011.
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@Khawaja Naveed Haider: Yes the current political leadership has been slow to get back on track with power generation but do you forget that the reason we have no power now is because a dictator did not add 1 MW of power in 9 years of dictatorship before? Do you blame Obama for the current US economic mess or do you blame his predecessor? Ask yourself who you should blame.
reading looks like all teh compnaies in the world are ready to invest in pak but why we cannot see any significant change..
I don't think so we could get power in next 10 years. PPP government but in fact all the political parties are the bad luck for Pakistan.
South Korea has one of the best solar energy system in the world.If this government does not spread her palms to collect kickbacks from the South Korean companies. There should be no problem for both private and public investment in the solar energy system to provide power to domestic and smaller industries.