Sunday, October 25, 2020

UK investors interested in Pakistan’s tourism, IT, hospitality, infrastructure & textile sectors

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

General Secretary of UK-Pakistan Chamber of Commerce & Industry (UKPCCI) Barrister Waheed ur Rehman Mian has said that they have identified around 26 sectors of Pakistan’s economy which have good potential for investments by UKPCCI investors and they were highly interested in Tourism, Information Technology, Hospitality, Infrastructure and Textile sectors which were at the top of their priorities.

Speaking at a meeting during the visit of UKPCCI delegation to KCCI, he added that in addition to these sectors, Pakistan’s real estate sector also offers lucrative opportunities to UK investors who have already invested in numerous real estate projects in Gwadar and they were here to explore more investment opportunities in this particular sector.

President KCCI Junaid Esmail Makda, Senior Vice President Khurram Shahzad, Vice President KCCI Asif Sheikh Javaid and KCCI Managing Committee Members attended the meeting while UKPCCI delegation also comprised of Muhammad Sajid Khan, Barrister Gul Nawaz and Ms. Sajida Nawab.

General Secretary UKPCCI, while highlighting the tourism potential of Pakistan, stated that UK investors were looking forward to setting up resorts in some of the most scenic areas in KPK province, particularly the Karakorum Highways which connects Pakistan with China. “All these resorts, which we plan to establish in different areas in KPK will also have schools, which will be constructed by UKPCCI in respective neighborhoods to give free education to the children of local inhabitants”, he added.

Waheed ur Rehman said that UKPCCI also plans to impart free technical education in Pakistan which would certainly help in improving the skills of Pakistani youth.

He stated that investors from UKPCCI were also currently setting up a high-rise building in Lahore while they are also looking into the possibility of constructing another high-rise building in Cantt area of Karachi.

“UKPCCI is also keen to conduct language courses and teachers training which will be provided either free or at a very low cost while a portal can also be provided to Pakistani youngsters who can submit their innovative work in this portal which would prove to be a good platform for highlighting their abilities”, he added.

While referring to recommencement of flight operations of British Airways from Islamabad from June 2, 2019 onwards, he was fairly optimistic that the airline would also recommence its operations from Karachi as well.

While underscoring the need for having regular coordination between the Chambers of Commerce in Pakistan and UK, Waheed ur Rehman informed that UKPCCI now has a permanent office as they recently inaugurated a new office in London which was inaugurated by Pakistan’s High Commissioner to UK Nafees Zakaria.

Speaking on the occasion, President KCCI Junaid Esmail Makda informed that Karachi, which is the economic hub of Pakistan, offers profitable investment opportunities and added facilities for trade, investment and joint ventures to British business and industrial community. “Karachi city, which contributes more than 70 percent revenue to the national exchequer, is an attractive place for British businessmen, who can surely earn maximum profits by setting up their businesses or undertaking joint ventures here”, he added.

He stressed that the KCCI and UKPCCI should work closely with each other to gather information on the concerns faced by businessmen and entrepreneurs of both countries while all these issues should be taken up with relevant government agencies and ministries for further discussions and engagement.

He said that KCCI was keen to strengthen trade ties and exploring new bilateral trade prospects with UK. “We believe Pakistan’s improved relations and enhanced trade with countries like UK would surely help in dealing with the economic crisis, ensure prosperity, and create a win-win situation for both the countries.”

He emphasized that the Karachi Chamber wants to promote business, mutual understanding and friendly relations between the business communities of Pakistan and UK. “We want to promote and fully facilitate UK investment in Pakistan and do everything for the development of Pakistan–UK business cooperation”, he added while underscoring the need to make collective efforts both sides to enhance linkages between KCCI, UKPCCI and other chambers in UK in order to pave way for improved trade relations between the two countries.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

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