Sindh government and a high-powered delegation of Ukraine have principally agreed to join hands in the fields of agriculture, education, dairy and livestock, mining and skills development. A nine-member delegation led by Volodymyr LAKOMOV Ambassador of Ukraine to Pakistan and Ahmad Nawaz Saleem Mela, ambassador of Pakistan to Ukraine started its first ever three-day business tour from Sindh Board of Investment (SBI) here on Monday.
The head of the delegation, Alexandr Lvanchuk along with honorary consul general of Ukraine Engr. M. A. Jabbar, Andriy ROMANENKO, first secretary, Embassy of Ukraine and other businessmen discussed business opportunities in Pakistan especially in Sindh with Zubair Motiwala, chairman SBI and other officials.
Talking to the delegates, Motiwala said that although the diplomatic relations between Pakistan and Ukraine has been stretched over two decades, the trade volume between these countries, which is mostly tented towards Ukraine, was not more than US $250 million. He advised that the Ukraine, which has modernised its agriculture sector and using modern techniques for alternative energy and mining, could utilise their expertise to explore the potential of Thar coal and agriculture sector in Pakistan as the government of Pakistan is offering 20 percent returns in equity.
Alexandr said the visit of high-powered delegation first ever to Pakistan has shown that the Ukraine government is keen to encourage bilateral trade between these two countries. He said the Ukraine has vast experience in energy, mining and manufacturing of agro-based machinery that could be utilised to explore new business markets in Pakistan.
He said the doors of well reputable universities of Ukraine have now been opened for Pakistani post-graduates to complete their PhDs and added that the Ukraine is poised to sign a Memorandum of Understanding (MoU) with Pakistan to provide assistance in the fields of education, mining and skills development. Alexander said that they were ready to invest in mining and agriculture machinery projects. He said, "We are keen to provide agro-based technology such as light and heavy tractor, thresher, drip irrigation and etc. The investment could only be made through better marketing of their products."
He said the Ukraine besides exporting Halal food with Halal certification from Muslim countries, was also sending fruits, rice, sunflower oil and pasta made of Tomato abroad. Meanwhile, Volodymyr LAKOMOV ambassador of Ukraine to Pakistan has proposed to establish a campus of one of the well-known universities of Ukraine in Islamabad.
Naheed S. Durrani, Secretary Investment, gave a detained presentation to the delegates about the investment opportunities in Sindh. She said Sindh government has evolved a very attractive policy for foreign investment carrying range of benefits for foreign investors. For investment in Thar Coal and Wind projects, there is an attractive tariff; there is dollar based repatriation of profits and plus a zero-rated import duty on import of machinery. She further said the Sindh's mineral resources and renewable energy resources coupled with an attractive incentive package provide a great opportunity to international companies to invest in this sector.
Engr. M.A Jabbar, honorary consul general of Ukraine and chief patron of Pak-Ukraine Business Council, said the SBI with many projects and incentives may act alone a big source of attraction by Ukraine companies to involve in joint ventures with Sindh government.
He said the Sindh has safe investment place where the losses are covered against the guaranteed profits in terms of revenue returns and subsidised mark-ups. Talking to Business Recorder, chairman SBI Zubair Motiwala expressed optimism regarding the business trip of Ukraine entrepreneurs to Pakistan, saying that the three-day visit would definitely yield fruits for both countries.
He said the SBI would hopefully sign an agreement with Ukraine delegation within a day or two to get assistance from them in the fields of skills and infrastructure developments, education, mining, agriculture, dairy and livestock. He said the Sindh has 350 kms of coastline and accounts for 71 percent of country's marine resources including fish and shrimp.
At Board of Investment's office, director general Nasreen Ali gave brief presentation about the investment opportunities in other parts of the country. She said Pakistan is a home to some 700 multinationals as the investments are fully protected under the laws. She also advised to the delegates to interact with Pakistani businessmen more to explore new business venues. Later, the delegation called on Governor Sindh Dr Ishrat-ul-Ibad to discuss issues related to business and security.