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ISLAMABAD: Minister of State and Chairman Board of Investment (BoI) Naeem Y. Zamindar has invited the Kuwaiti investors for taking the advantage of lucrative investment opportunities existing in different sectors of the national economy and said that BOI would offer all kind of facilitation.
Addressing the members of the Kuwaiti business community, he said that the government was committed to make Pakistan a business-friendly country. Foreign investment in Pakistan is protected by rigorous laws and foreign direct investment regulations allow full repatriation of capital and profits, he added.
It may be recalled that a high-level delegation led by the Chairman, BoI and comprising senior government officials, head of provincial Board of Investment and leading Pakistani businessmen are visiting Kuwait on the directives of the Prime Minister.
Pakistan’s location on the cusp of important economic regions, young population and skilled labor force supported by very rapidly growing technology infrastructure made Pakistan is a very attractive destination for investment not only for the domestic market but also as a production and export hub for rest of the world, he added.
He said that with improved security and a sustained economic turnaround Pakistan was open for business, adding that Kuwait with its historical business and economic linkages and the high regard that it enjoyed in Pakistan was best placed to avail of the emerging potential and opportunities.
He informed that the number of mobile phone holders in Pakistan was increased by 100 times between 2003 to 2008 and number of bank account holders is expected to increase 8 times to 80 percent of the eligible population in 3 years.
The business environment was also helped by vast improvement in security situation in last three years.
He identified through facilitation and incentive measures including one window operation and Special Economic Zones Kuwait’s companies will find Pakistan a hospitable investment destination.
Chairman BOI informed that Pakistan is aiming for a 9 percent economic growth rate by 2020 and also reiterated Price Waterhouse Coopers projection that Pakistan will be joining G-20 by 2030.
Chairman BoI hoped that the event will be useful in both showcasing the investment opportunities of Pakistan and also getting feedback from Kuwaiti investors for their future investments and prospects in Pakistan.
Presentations were also given by the Chairperson Sindh Board of Investment, Naheed Memon, General Manager National Highway Authority, AzeemTahir, Additional Director Punjab Board of Investment & Trade, Rana Waqas, whereas the private sector held business to business meetings during the conference.
Earlier the Chairman BoI also held meetings with Kuwait Investment Authority and Kuwait Fund for Arab Economic Development, National Industries Group, Saffat Energy, Noor Financial Investment Company, Al-Ghanim, and Pakistani Professional and Entrepreneurs.