Pakistan offers Austrian firms for investment in Pakistan
In a Pak-Austria Investors meet-up Pakistan offers Austrian firms for investment in Pakistan on Thursday, Pakistan highlighted potential investor opportunities in the oil and gas, financial, energy, and information technology sectors, as well as the country’s upcoming petrochemical strategy, which will provide more facilities and tax breaks to foreign investors.
The meeting was held by the Board of Investment (BoI), with keynote speakers including Minister of State and Chairman of the BOI, Muhammad Azfar Ahsan, Advisor to the Prime Minister on Commercial activity and Investment Abdul Razak Dawood, Vice President of the Austrian Federal Economic Chamber Carmen Goby, and Austrian Foreign Minister Alexander Schallenberg.
The event was attended by an Austrian business delegation as well as prominent representatives of Pakistan’s corporate sector. Pakistan’s public departments gave presentations to showcase federal policies and initiatives for foreign investors.
Read More: The future of cryptocurrencies looks dark In Pakistan
The head of the Board of Investment (BOI) emphasised that the Pakistani and Austrian businesses companies have long had cordial relations. Ahsan elaborated on Pakistan’s petroleum and energy potential, saying that the nation was gifted with one of the world’s best places for solar and wind power production and that several international firms were already working successfully in these fields.
He also discussed the government’s petrochemical plan, which he said was being developed to open up new investment opportunities. “Austria has been a key development partner, and there is a need to strengthen business and investment relationships to produce jointly beneficial outcomes by focussing on frequent trade and investment delegation visits to seek all undiscovered aspects of prospective cooperation.”
Investment in Pakistan
He highlighted the attendees of many investment opportunities in Pakistan, including financial services, energy, and power generation equipment, that despite the attractive potential for mutually beneficial economic engagements, investment collaboration has dwindled over time. “As a result, it’s time to concentrate on business-to-business (B2B) relations, particularly in industries like construction, energy, information technology(IT), railways, engineering, and tourism,”
He pledged his support to Austrian investors and expressed confidence that Business – to – business discussions would strengthen cooperation in the energy and engineering industries.
Dawood gave a thorough overview of Pakistan’s open-investment regime to the audience. He expressed his satisfaction with Pakistan’s success in large-scale manufacturers, construction, and exports.
He welcomes Austrian investors to Pakistan’s market and reviewed investment potential in the textile, energy sectors and engineering.