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Press Release - Visit of German Business Delegation to BOI

Prime Minister's Office
Board of Investment
Visit of German Business Delegation to Board of Investment
October 31, 2018, Islamabad: "Pakistan is back on the economic map of the world now and we have successfully tackled the security challenge in the country and achieved stability of democratic institutions, which has been recognized by the international community". This was stated by Chairman BOI, Mr. Haroon Sharif, during a meeting with a German business delegation at BOI Islamabad today.
A German business delegation, led by Mr. Walter J. Lindner, State Secretary Federal Foreign Office, visited BOI Islamabad to discuss the investment opportunities in Pakistan. The delegation was represented by German Ambassador to Pakistan, H.E. Martin Kobler, senior government officials and representatives from private sector.
While addressing different concerns shared by the delegation, Mr. Haroon Sharif stressed that transparency is the main focus of the current government and it has been reiterated by the leadership as well, including a recent step by the Prime Minister launching a portal for lodging direct complaints. He further commented that the significant changes in the structure of economy and institutions will take some time; rather the direction has to be set right while the changes will follow. Quoting the example of Council of Business Leaders, Mr. Sharif emphasized the commitment of the current government, led by the Prime Minister, to sit together with private sector and resolve the issues to strengthen the investment and business climate in Pakistan.
During the meeting, Mr. Walter Lindner recognized that the current government has set a social agenda, which would take the country in the right direction. He stressed the importance of transparency in procurements and contracts in inviting further investments in the country. He termed Pakistani population, particularly the young population, as an opportunity that can be trained in specific skills to exploit the maximum potential from the market.
The German delegation was represented by private investors from different sectors of economy, including Metro AG (retail sector), Siemens Engineering and Voith Hydro (energy) as well as representative from German Pakistan Chamber of Commerce and Industry. During the discussions, the representatives shared their experiences in Pakistan to highlight the areas where reforms are required to improve the business climate. These concerns included issues related to contract management, intellectual property rights and other areas. The BOI team responded to these concerns while Chairman BOI directed the team to work on the structural changes to address such issues. The German investors also showed great interest in expanding as well as exploring new investment opportunities in the country.
At the end of the meeting, Mr. Haroon Sharif talked about the need for German innovation and technology to boost the local industry. He added that the technology can play a vital role in prevailing over the problem of corruption. He asked the members of German delegation to come forward with suggestions, based on their experience, to improve the business climate in the country.
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