Russian investors eye coal and energy sector

Russian investors visiting the country express interest in investment in coal and energy sectors.

ISLAMABAD: Russian investors visiting the country have expressed interest in investment in coal and energy sectors, according to the Board of Investment (BOI).

A three-member delegation from the Russian Investment Agency (RIA) met BOI officials on Friday and was briefed on Pakistan’s investment policy, incentive packages and tremendous potential in the field of oil and gas, agriculture and energy by Muhammad Muslim, Director General BOI.

Policy parameters allow 100 per cent foreign equity in major sectors, full repatriation of profits and dividends in all sectors and zero-rated import of raw materials for export manufacturing, highlighted Muslim.

He also shared investment statistics and informed the Russian investors of the bilateral agreements Pakistan has signed on investment protection and on avoidance of double taxation.

A memorandum of understanding was signed between BOI and RIA for continued economic cooperation and exploring the potential of two-way investments.

Published in The Express Tribune, November 6^th, 2010.