Business

Ankara looks to invest in pharma sector, SEZs

Envoy calls for holding roadshows in major cities of Turkiye

APP October 21, 2023

The Pharma Bureau official asked as to why port authorities needed a long time to clear shipments from India despite fulfillment of all legal obligations. PHOTO: REUTERS

ISLAMABAD:

Turkiye Ambassador Mehmet Pacaci said on Friday that Turkish investors had shown keen interest in making substantial investments in Pakistan, especially in mining, equipment manufacturing, paper products, pharmaceutical sector and Special Economic Zones (SEZs).

The ambassador stated this in a meeting with Special Assistant to Prime Minister and Minister of State on Investment at the Board of Investment (BOI) Tahir Javed.

During talks, both sides emphasised the deep religious, cultural, political, economic and social ties between Pakistan and Turkey.

While expressing keen interest in making investments, the ambassador emphasised the commitment of leading Turkish companies, including Lemak, Dolcer, the Turkish Contractors Association, Arcelik, Zorlo, Alberic and Pak Yetiram, which had already poured capital into Pakistan.

He reaffirmed Turkiye’s readiness for joint ventures in various sectors, citing Pakistan’s vast potential in those areas. Pacaci also highlighted the extensive research conducted on Pakistan’s investment landscape.

Read Turkiye focuses on SIFC activities

He mentioned that 46 Turkish contracting companies were keen on investing in Pakistan as they were looking at increasing their share in the infrastructure sector and exploring the potential for collaboration in the construction sector.

The envoy underlined the need for conducting roadshows in three major cities of Turkiye.

Speaking on the occasion, the special assistant to the prime minister voiced hope that Turkiye and Pakistan would deepen economic and trade cooperation to strengthen bilateral ties.

He welcomed Turkiye’s interest in investing and underscored the need for increased collaboration in varying sectors, including infrastructure and construction, to bolster economic cooperation.

“We need your help to bring new investments in the shape of new companies from Turkiye,” he stressed. Both sides expressed their eagerness to further engage in all areas of mutual interest and foster the convergence of perspectives on regional and global issues.

Published in The Express Tribune, October 21^st, 2023.

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