French firms eager to develop ski resorts in G-B

French enterprises are keen to invest in the tourism sector of Pakistan and establish ski resorts in Gilgit-Baltistan, said French Honorary Investment Counsellor Federico Juan Tomas Espana.

He made the revelation in a meeting with Board of Investment (BOI) Secretary Fareena Mazhar on Tuesday while heading a delegation of French businessmen.

To facilitate the business group, the BOI, in coordination with the government of Gilgit-Baltistan, has organised a tour of the delegation to five districts of the region including Ghizar, Phandar, Astore, Nagar and Skardu.

Speaking on the occasion, Mazhar said that the recently launched Investment Strategy 2020-23 was aimed at attracting foreign investment to different sectors of Pakistan’s economy.

“The strategy provides a comprehensive investment cycle, consisting of policy advocacy, market research and investment facilitation,” she said. “It offers protection to foreign businessmen through investor tracking, sector scanning and aftercare services to investors and projects.”

The BOI secretary told the delegation that 22 Special Economic Zones (SEZs) were present in the country and invited French companies to either set up their business in the SEZs or establish an exclusive SEZ for French enterprises.

“In order to facilitate international investors in Pakistan, the Board of Investment has developed an online database in cooperation with federal and provincial governments,” she said. “A total of 120 projects worth $60 billion are available on the organisation’s website.”

She added that the board had also developed an incentive database where investors could see the complete set of relaxations being offered to specific sectors.

She requested the delegation to visit the BOI website, saying that it was user-friendly, interactive and up to date.

During the interaction, the BOI secretary shared that the entity had signed a memorandum of understanding (MoU) with Business France to enhance cooperation and facilitation for investors, exchange of information and knowledge sharing.

Upon return of the delegation from G-B, it will meet representatives of the Ministry of Information Technology and National Incubation Centre (NIC) to discuss areas of mutual cooperation.

Published in The Express Tribune, October 27^th, 2021.

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