ISLAMABAD: The Federal Board of Investment organised a Pakistan Investors Meetup 2022 for the Central Asian Republics (CARs) and African countries at Expo Centre Lahore on Saturday.
According to details, more than 100 foreign delegates from CARs and Africa participated in the BoI’s Pakistan Investors Meetup 2022 in Lahore. The BoI has also invited investors from across the globe in the Pakistan Investment Summit 2022 which is scheduled to be held on March 30 and 31, 2022 in Islamabad during Pakistan Investors Meetup at Expo Lahore Investment Event.
Uzbekistan business community has expressed interest to invest in Pakistan’s tourism and agriculture sector. Pakistan and Africa share many commonalities. Both have their own geostrategic significance which makes it convenient for investors to trade globally.
Similarly, Pakistan and the CARs shared religious and cultural cohesion. As people-to-people contact is an effective instrument for encouraging joint investment endeavors, the Pakistan Investors Meetup 2022 will play a pivotal role in establishment and strengthening of ties with the business community from the CARs and African countries, said Board of Investment, Secretary Fareena Mazhar.
The meetup was attended by foreign business community from Algeria, Benin, Botswana, Cameron, Egypt, Eswatini, Ethiopia, Kazakhstan, Kenya, Kyrgyzstan, Morocco, Mozambique, Nigeria, Rwanda, Senegal, South Africa, Sudan, Tajikistan, Azerbaijan, Turkmenistan, other African and CARs, and the investment promotion team of the BoI.
The investment promotion team of the BoI welcomed the foreign delegates and informed that being at the crossroads between Central and South Asia, it is encouraging for Pakistan to successfully establish itself as a suitable investment destination and play a bridging role by providing easy passage to the landlocked CARs.
Also, the BoI appreciated the speedy economic growth achieved by many African Nations and expressed that the African continent is currently at a critical juncture in its history, owing to its promising economic potential, which is paving way for Pakistan-African Joint investment cooperation in various fields of the economy.
“Pakistan and the CARs have signed various memorandums of understanding (MOUs) on economic and investment cooperation in several fields. Furthermore, intergovernmental Joint Economic Commissions have also been established with regional countries. The Board of Investment is all set to jointly facilitate in materialising the envisaged joint benefits and facilitate mutual avenues of investment to materialise the protocols in letter and spirit.
Agriculture, healthcare and pharmaceuticals, minerals, IT, engineering and tourism as potential areas of cooperation between Pakistan and Africa, said director general Investment Promotion, BoI.
Mian Rehman Aziz, Senior Vice-President of the Lahore Chamber of Commerce and Industry shared his views pertaining to Pakistan’s local businesses’ immense potential and the key areas of focus.
Dr Faisal Q Khokhar, Zonal Chairman of the Pakistan Pharmaceutical Association of Pakistan (PPMA) invited the foreign business community to invest in Pakistan’s pharma sector and elaborated on the future of Pakistan’s pharma industry. Deputy Chairman of Uzbekistan, Food industry Association, Fazlitdinov Sanjar along with his delegation also participated in the event.
He appreciated the beauty of Lahore and the tourism potential of Pakistan. He underscored the immense scope of joint participation of Pakistan with Uzbekistan in agricultural products including cotton yarn.
Chairman BoI Muhammad Azfar Ahsan had welcomed the Ethiopian State Minister of Foreign Affairs and Ambassador, Redwan Hussien and his delegation to the BoI on 22nd February 2022 at BoI where he had stressed that Pakistan considers Africa economies to be one of the centrepieces of its “Engage Africa” initiative.
He highlighted common areas of interest and potential of the JVs between African countries and Pakistan, and underscored the need to establish a regular mechanism of interaction between business associations and chambers of African countries and Pakistan. During the Pakistan Investors Meetup 2022, director Investor Promotion, BoI delivered a presentation to the delegates from Asia and CARs highlighting investment potential and opportunities of different sectors in Pakistan.
The audience was also informed that the BoI is also organising Pakistan Investment Summit, 2022, a two-day event on March 30-31, 2022 in which more than 500 international investors are expected to attend.
The Investment Media Kits were disseminated among the business community at the BoI stall set up at the exhibition. Furthermore, the queries raised by investors were also responded by the investment promotion team of the BoI at the event as well as at the stall. The BoI team also appreciated the efforts of the Trade Development Authority of Pakistan (TDAP) for organising a successful exhibition.
Copyright Business Recorder, 2022