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BOI chief stresses need for deepening ties with Germany


10/26/2018
KARACHI / ISLAMABAD: The economic partnership between Pakistan and Germany has shown positive trends in recent years, however, it needs to be strengthened further, said Board of Investment (BOI) Chairman Haroon Sharif.
 
Sharif was addressing the Pakistan-Germany Investment Forum, organised by the BOI and attended by a German delegation from the Bavarian Ministry of Economy, Energy and Technology and the German Federal Chamber of Commerce and Industries.
 
The delegation comprised representatives of around 40 companies, two officials of the Bavarian ministry and one from the German chamber.
 
Talking about the investment climate, the BOI chairman pointed out that Pakistan was open for business and invited investors to take advantage of the opportunities, particularly in the large consumer market. He highlighted that Pakistan was the gateway to western China after the launch of the China-Pakistan Economic Corridor (CPEC) and was a logistics hub.
 
Sharif cited renewable energy, information technology, food and dairy and services as the prominent sectors that required investment. In addition to the investment, the chairman called for forging partnerships and reviewing other prospects. Speaking on the occasion, PM Adviser on Commerce, Textile, Industries, Production and Investment Abdul Razak Dawood emphasised that Pakistan was dealing with the macroeconomic challenges successfully. “All these advantages coupled with a friendly investment policy offer ideal opportunities for investment in Pakistan,” he said, adding the security situation in the country had improved significantly.
 
The adviser acknowledged Germany’s unwavering support for Pakistan in securing the GSP+ status for the EU market and stressed the need for further enhancing exports. He also encouraged the German delegation to explore business opportunities during their visit to information technology incubation centres where young entrepreneurs were coming up with new ideas.
 
The event was followed by a presentation from the BOI which highlighted the investment opportunities available in Pakistan as well as the investment regime.
 
CPEC project director and the Ministry of Planning, Development and Reform also gave a detailed presentation on the opportunities available in the China-Pakistan Economic Corridor (CPEC) and informed the audience that the corridor was open for partnership with other economies of the world.
 
Later, a B2B meeting with the local business community was held wherein a large number of representatives from all sectors of the economy were present for productive discussion and possible future collaboration.