BoI secy receives French team: Delegation to visit G-B to set up ski resorts

ISLAMABAD: A French delegation led by Federico Juan Tomas Espana, Honorary Investment Counselor (HIC), France was received by the Secretary Board of Investment (BOI), Fareena Mazhar, in her office on Tuesday. Federico and the French delegates have expressed keen interest in investing in the tourism sector of Pakistan, particularly, setting up ski resorts in Gilgit-Baltistan region.

In order to facilitate the French delegation, the BOI, in coordination with Gilgit-Baltistan government has organised their visit to GB's five districts including Ghizar, Phandar, Astore, Nagar, and Skardu. Upon their return from GB, the delegation will also meet representatives from the Ministry of Information and Technology and the National Incubation Center (NIC) to discuss areas of mutual cooperation.

The recent development was an outcome of a Zoom meeting between the HIC and the secretary BOI, held on 21st September 2021. During the interaction with the French delegation, the secretary BOI shared that the BOI has signed an MoU with Business France for investment cooperation and facilitation, exchange of information and knowledge sharing.

As follow-up, various webinars were held and detailed presentations on investment opportunities, incentives, and policies were delivered by the BOI. However, there is a dire need to enhance investment cooperation and coordination between the two IPAs, she added.

Fareena also apprised the delegation on the new Investment Strategy 2020-23, which has been launched recently to attract foreign investment in various sectors of the economy. She shared that the strategy provides comprehensive investment cycle, consisting of policy advocacy, market research, investment facilitation, promotion, protection including investors tracking, sector scanning and after-care services to investors and projects.

The secretary also informed the investors about the 22 Special Economic Zones (SEZs) and invited the French companies to establish businesses in the already established SEZs or opt for establishing an exclusive SEZ for French companies. She further said that in order to facilitate international investors in Pakistan, the BOI has developed an online database of available 120 projects with federal/provincial governments worth US 60 billion dollars, available on the organisation's website.

Copyright Business Recorder, 2021