Saudi-based group expresses interest in USD10bn investment

ISLAMABAD: Federal Minister for Board of Investment (BOI), Qaiser Ahmed Sheikh, held an important meeting with a high-level delegation comprising business leaders, overseas Pakistanis, and media professionals to explore investment opportunities in Pakistan across multiple sectors.

The delegation included Rasheed Khan Niazi, former Director Current Affairs PTV Islamabad; Muhammad Tariq Ghous, Vice Chairman/President of Falcon Vision Company (Jeddah, Kingdom of Saudi Arabia); Zulfiqar, Business Head Falcon Vision Pakistan; Dr. Asmat Ullah Khan, PhD in Mass Communication and Country Head of Falcon Vision; Maqbool, associated with real estate projects including J7 Emporium; Col. Jamshed; and Attique, an overseas Pakistani based in Korea engaged in the luxury automobile business. Senior officials of the Board of Investment also attended the meeting.

The Federal Minister warmly welcomed the delegation and reiterated that BOI remains fully committed to facilitating investors at every stage. He emphasized that the Government of Pakistan is pursuing a proactive and investor-friendly policy regime to attract foreign direct investment and promote economic growth.

Muhammad Tariq Ghous briefed the Minister on the operations of Falcon Vision Company, a Saudi-based diversified business group headquartered in Jeddah with interests spanning infrastructure, construction, technology, and multiple industrial sectors. He highlighted that Saudi investors are actively exploring opportunities in Pakistan and indicated that up to USD 10 billion has been earmarked for potential investments in various sectors.

Welcoming this development, the Federal Minister termed it a strong expression of confidence in Pakistan’s economic potential and investment climate. He noted that Pakistan offers a vast and dynamic market with significant opportunities across sectors, supported by a young population and strategic location.

The Minister underscored that Special Economic Zones (SEZs) offer highly attractive incentives, including exemption from income tax until 2035 and duty-free import of plant and machinery. He further highlighted that Business Facilitation Centers (BFCs) are operational as one-stop, single-window platforms to streamline business processes, including registrations, licensing, and approvals.

Reaffirming investor confidence, Qaiser Ahmed Sheikh stated that Pakistan allows 100 percent repatriation of profits and ensures a non-discriminatory policy for both local and foreign investors, with BOI serving as the custodian of the country’s investment policy. He acknowledged existing challenges such as energy costs and procedural bottlenecks but assured that the Government is actively addressing these issues.

The Minister also highlighted BOI’s leading role in regulatory reforms through the Cabinet Committee on Regulatory Reforms (CCoRR), which he chairs, aimed at simplifying procedures and improving the ease of doing business.

Maqbool briefed the Minister on his real estate ventures, including J7 Emporium, and shared plans for establishing a Special Technology Zone (STZ). He emphasized the importance of aligning STZs with SEZs to accelerate industrial growth through capacity building. In response, the Minister informed that SEZ regulations have been amended to enable greater private sector participation, allowing private entities to develop and manage SEZs subject to prescribed requirements. He clarified that while new zones are currently restricted, investors can capitalize on existing notified areas, with BOI ready to extend full facilitation.

The Minister appreciated the invitation to visit J7 Emporium and encouraged further collaboration in the real estate and commercial development sectors.

BOI officials invited the delegation to visit the Business Facilitation Center to observe firsthand the efficiency of the single-window system.

Col. Jamshed briefed the Minister on a joint project with Maqbool to establish a modern shopping mall in Chakwal. He highlighted the district’s literacy rate exceeding 97 percent and the presence of the University of Chakwal with a significant student population, reflecting strong human resource potential. The Minister appreciated the initiative and wished them success.

Maqbool also shared plans to develop a Gandhara Club near Taxila, aimed at promoting religious and cultural tourism, particularly for Buddhist visitors. He noted growing international interest in Gandhara heritage projects, including potential investments in resorts and educational institutions. The Minister welcomed the proposal and acknowledged Pakistan’s vast untapped potential in tourism.

Drawing on his own business background and experience in international joint ventures, including collaborations with Korean and Malaysian partners, the Minister emphasized his understanding of investor needs. He reiterated that Pakistan’s policy framework also supports passive capital inflows, making it beneficial even for investors who wish to park funds in the country.

Concluding the meeting, Qaiser Ahmed Sheikh assured the delegation of his full accessibility, stating that he personally remains available to investors and ensures prompt response and facilitation. He encouraged all participants to remain engaged with BOI for any support required.

BOI remains committed to facilitating investors and positioning Pakistan as a preferred global investment destination.