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ISLAMABAD: Board of Investment (BOI) Secretary Fareena Mazhar termed the forthcoming visit of German delegation to Pakistan a very positive sign for Pakistan’s economy.

German Ambassador to Pakistan Bernhard Stephan Schlagheck called on Secretary BOI Mazhar, here on Wednesday.

During the meeting, the ambassador mentioned that a delegation of German businessmen is set to visit Pakistan in the following week to explore investment opportunities.

He added that Lufthansa was also a part of the delegation and was keen on starting operations in Pakistan.

He further shared that the business delegation would be visiting Karachi and Islamabad, and would be interacting with investors from the private sector and high-level government representatives.

BOI Secretary Mazhar shared she was looking forward to host the delegation at the BOI and facilitate them in every possible way. She also added that senior-level meetings with Siemens Global CFO to discuss their future plans will pave the way for Siemens establishing itself further in Pakistan.

The secretary, while highlighting the various opportunities in Pakistan, said that regulatory reform is a priority area for the incumbent government and investor facilitation is being paid special attention.

She apprised the ambassador on the 10-year tax exemption introduced in the Special Economic Zones (SEZs) and the landmark one-window operation that is set to be launched end of November this year.

“I’m confident with the way things are going and I’m positive that the numbers will increase,” the secretary said, while talking about Foreign Direct Investment (FDI) in Pakistan.

She also added that a jump of 15-20 positions is expected in Pakistan’s Ease of Doing Business (EODB) ranking in the State Bank’s next DB report.

The secretary further said Pakistan’s business climate at the moment was very conducive and the government has been introducing reforms to encourage foreign investment from all over the world.

She mentioned that business giants such as Samsung and Uniqlo are about to start their operations in Pakistan and assured that the BOI, being the premier investment promotion and facilitation organisation will facilitate German investors at every step of the way.

Copyright Business Recorder, 2021

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