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Pakistan

BOI assure to facilitate Egyptian investment in Pakistan

  • Atif Bokhari said that BOI will assist with briefing and connecting them with relevant stakeholders for projects the company wishes to pursue along with any support required for additional acquisitions.
Updated 25 May 2021

ISLAMABAD: Chairman Board of Investment (BOI) Atif Bokhari on Tuesday assured to provide all-out facilities to the Egyptian investors for investment in Pakistan.

The Chairman BOI guaranteed of BOI’s hand holding to facilitate Egyptian investment in Pakistan, said a press release issued here.

The Managing Director of Elsewedy Electric Pakistan, Sherif Abo Elhassan, a Leading Egyptian electric company, called on Chairman Board of Investment (BOI) Atif Bokhari and Federal Secretary BOI Ms. Fareena Mazhar at BOI to discuss sector based investment opportunities in Pakistan.

Director General, Investment Promotion BOI, Jamil Qureshi also participated in the meeting.

Atif Bokhari said that BOI will assist with briefing and connecting them with relevant stakeholders for projects the company wishes to pursue along with any support required for additional acquisitions.

Charman BOI Atif Bokhari said that BOI is ensuring investor facilitation through online availability of investment related information and it is heartening to see its culmination into potential leads.

Chairman BOI Atif Bokhari said that BOI is ensuring investor facilitation through online availability of investment related information and it is heartening to see its culmination into potential leads.

Welcoming Sherif Abo Elhassan, Secretary BOI Fareena Mazhar elaborated on the investment opportunities and facilitation being provided by the Board of Investment to investors.

The economic policies of the government have established Pakistan as an emerging market that has generated investor interest from around the globe, she said.

She also apprised about Pakistan’s consistent improvement in World Bank’s Ease of Doing Index wherein the country advanced 28 positions in DB Report 2020.

Sherif Abo Elhassan thanked both Chairman and Secretary BOI for their time and expressed hope to work in close collaboration for future ventures.

Elhassan appreciated Pakistan’s incentive regime and improvement in business climate.

Referencing his company’s acquisition of a transformer manufacturing facility, he briefed that production will not just cater to domestic demand but will also be exported to other countries in the region thus promoting export driven industrialization in the country.

He further shared that the company plans to increase its footprint in the country and has identified potential projects in the infrastructure and construction sector that are available on BOI’s Projects Portal.

Elsewedy Electric recently acquired a 100 percent equity stake in Validus Engineering Pakistan, previously owned by Siemens.

The takeover will bolster company growth via introduction of power transformer technology that enhances the production capacity to support regional export.

Additionally, Elsewedy is also a potential bidder for acquisition of Heavy Electric Complex (HEC).