ISLAMABAD: A senior Pakistani official has invited Saudi Arabia investors to take advantage of lucrative investment opportunities in Pakistan.
Pakistan was rapidly becoming the best destination for investment with improved security and favorable business climate backed by strong macro-economic indicators, said Waseem Hayat Bajwa, commercial officer at Pakistan Embassy in Riyadh.
Addressing an elite business gathering organized by the `Pakistan Investors Forum’, Bajwa said that Pakistan was now witnessing revival in almost every field including energy, industrialization, telecom, agriculture,and infrastructure due to improved law and order situation, Arab News reported.
The government, he said, was aspiring to put Pakistan among top 25 big economies of the world, although an ambitious task but quite doable.
On cooperation in energy field, Bajwa said, “We have set goal of doubling the energy capacity of the country from 22,000 MW to 45,000 MW by 2025, which would help the country to move on fast track of development.”
He said: “For foreign investors, there is trouble-free entry to Pakistani market with 100 percent ownership, ease of registration and flexibility in financial procedures.”
Spelling out the incentives given to Saudi, overseas Pakistanis and foreign investors, he said that the unrestricted remitting of capital and 25 percent off on the initial depletion of machinery is something an investor wouldn’t want to miss.
Referring to the progressively growing relations between Saudi Arabia and Pakistan, Bajwa said that “it is high time that Pak-Saudi strong knitted strategic relations should be transformed into meaningful business and trade relations.”
With more than 200 million population, Pakistan is no doubt an ideal market, said the commercial officer, adding that the Saudi government and big corporations should focus on a look east policy with Pakistan as the main investment hub.
