Prime Minister Yusuf Raza Gilani on Thursday said Pakistan has become a destination of choice for foreign investors due to its geo-strategic location, availability of skilled manpower, better infrastructure and low manufacturing cost.
Talking to a delegation of LOTTE Group led by its President Dong Bin Shin, the prime minister said the government had designed investment friendly policies to encourage both foreign and local investors to promote commercial activities in the country and develop linkages with regional economic pursuits.
He further said the South Korean companies should take advantage of the specialised economic zones being established in Pakistan for export oriented manufacturing industry and reap the benefit from the geo-strategic location of the country, which provide access to markets of Middle East, Central Asia and India.
He said the government was focussing on the National Trade Corridor programme by developing road and rail network to connect within and with the Central Asian Republics as well as with other countries in the region. The prime minister said there are a number of opportunities available for foreign investments particularly in energy and infrastructure sector.
He specially highlighted his vision to connect Peshawar with Karachi through motorway, which would serve as an economic lifeline for the country. He invited the LOTTE Group to look into the possibility of partnership in various sectors of this project from Bahawalpur to Karachi.
The government, the prime minister added believes in continuation of the economic policies to further attract more foreign investment in the country. He asked the Koreans to invest in infrastructure, power generation, IT and telecom, housing, food and beverage, fisheries, meat processing and livestock development.
He thanked the LOTTE Group for their generous contribution for the IDPs of Malakand and Swat. He also appreciated the group's plan for investment in Pakistan in various sectors of national economy. Gilani assured the delegation of complete support and co-operation from the government of Pakistan in any sector of their interest.
Pakistan and South Korea enjoy close friendly relations and the same has to be reflected in the economic field to further strengthen the ties between the two countries, he added. Dong Bin Shin, President of Lotte Group of Korea and leader of the delegation said the investment friendly policies were quite attractive for any investor and the same had inspired their interest for further investment in Pakistan.
While introducing the members of the delegation, he mentioned that CEOs of all the major companies under Lotte Group were accompanying him which reflect their keen interest to expand their business ventures in Pakistan. He apprised that Lotte Group of Korea has 65 subsidiary companies with a capital of over US $45 billion working in a number of countries including China, Russia, Iran, India and Japan covering various sectors particularly agro-chemicals and infrastructure.
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