K-P aims to woo private investment

Minister envisions small businesses driving progress

PESHAWAR:

Khyber-Pakhtunkhwa Caretaker Minister for Industries, Commerce, Technical Education, and Newly Merged Districts Affairs, Dr. Aamir Abdullah, has emphasized the significant population increase of 5.5 million people in the province after the merger of tribal areas.

He underscored the vital role of private investment and business promotion in achieving sustainable development in the region. The minister noted that Khyber-Pakhtunkhwa offers abundant opportunities across various sectors, emphasizing the need to create a favorable environment and facilities for investors and entrepreneurs.

He highlighted the pivotal role of private investment and business growth in the province’s economic development, citing global examples where countries achieved progress by prioritizing the private sector. He expressed the government’s commitment to supporting investors and entrepreneurs and providing them with comprehensive assistance.

These remarks were made during his address as the chief guest at an event titled ‘Khyber Pakhtunkhwa SMEs and Investors Networking,’ held at a local hotel in Peshawar. The event was organized by the Khyber Pakhtunkhwa Board of Investment and Trade (KPBOIT), in collaboration with the United Nations Development Program (UNDP). Attendees included officials from relevant government departments, investors, businessmen, representatives of UNDP, and other stakeholders.

Dr. Abdullah emphasized that fostering the private sector and encouraging investment are crucial for a country’s development. He highlighted the success stories of countries like China, which prioritized facilitating private businesses and investments to achieve progress and alleviate poverty.

The caretaker minister stressed the importance of promoting small and medium-sized enterprises (SMEs) in the province and providing necessary support for investments. He commended the KPBOIT’s mission to promote investment opportunities, underscoring its significance in driving economic growth.

He praised the event as a valuable initiative for connecting investors, businessmen, and relevant organizations to facilitate fruitful collaborations. He assured that the provincial government is committed to providing essential facilities to investors and entrepreneurs, emphasizing the importance of implementing memorandums of understanding signed during the event.

He urged participants to recognize the event’s significance and work towards realizing the agreed-upon initiatives, with the provincial government’s full support. Dr. Abdullah encouraged businessmen and investors to explore new ideas and opportunities for investment in the province, which would contribute to its development and success.

He urged the participants of the event to understand the importance of this event and to ensure the implementation of the memorandum of understandings, to be inked in the event while the provincial government will provide full support in this regard under the board.

He further urged the businessmen and investors to go ahead and invest in the province under new ideas, which will open wide avenues for development and success here.

 

Published in The Express Tribune, October 11^th, 2023.