Pakistan - President Asif Ali Zardari today invited Italian businessmen and entrepreneurs to invest in Pakistan
President Asif Ali Zardari today invited Italian businessmen and entrepreneurs to invest in Pakistan offering them host of incentives including Special Economic Zones where in return for bringing investment capital any investor could avail long tax holidays, low cost labor force and a very competitive environment together with easy access to a market of nearly two billion people.
He made this offer during his address to a select gathering of Italian businessmen and industrialists gathered in the auditorium of Italian Foreign Ministry in Rome that was also addressed by the Italian Foreign Minister and a number of business tycoons besides the Chairman of Pakistan’s Board of Investment Salim Mandviwallah who made a graphic presentation under the title “Pakistan-The Preferred Investment Destination” outlining what was on offer in Pakistan for those willing to bring in equity and business skills.
Talking to the media Spokesperson to the President former Senator Farhatullah Babar said that the President also identified the areas in which the Italian investors were welcomed to invest to the mutual benefit of the two countries and their peoples, says a press release received here from Rome today.
These areas, the President said, were food and agriculture, gemstone technology, marble quarrying and cutting, oil exploration, energy, textiles and leather value addition.
With the help of a large geo strategic map displayed on the screen the President demonstrated to the entrepreneurs how Pakistan was strategically located in the region that made it closer to half of mainland China, large parts of India and the whole of Central Asia than from any port anywhere in the world. This strategic location, the President said, “gives access to a huge market of nearly two billion people that was unique in the business world”.
He said that the coming together of the world on the platform of Friends of Democratic Pakistan to assist Pakistan in economic development, the country’s strategic location in a huge market and a specially designed business friendly environment of public private partnership devised by the government all “created a dream world of opportunities in business, trade, commerce and industry”.
From the Special Economic Zones the Italian investor can export goods and manufactures to part of the world the President said adding that it was an unprecedented opportunity that no investor could ignore.
President Zardari said that Pakistan had vast reserves of untapped and unutilized coal adding, “Gasification of coal is another area where the Italian investor can come to mutual benefit”.
President Zardari said that the democratic government had introduced major economic reforms to create a favorable environment for investment in the country. These reforms he said included tax reforms, devolution, Fiscal Responsibility and Debt Act, governance transparency, capital market reforms, agriculture sector reforms and access to justice, judicial reforms and civil reforms. For these reasons he said that Pakistan had recently been ranked number two, second only to Singapore, as the country in South Asia that was the easiest for doing business in.
Salim Mandviwallh explained the incentives offered which he said included full repatriation of capital and dividends, permission to raise local and foreign finance, avoidance of double taxation agreements with 52 countries and bilateral investment promotion and protection agreements with 47 countries. He said that under new policy Pakistan offered level playing field to both local and foreign investors and also opened all economic sectors to direct foreign investment.
The President said that Italian investors could avail five year tax holiday in the special zones. They will also be allowed duty free imports of plants and machinery and the facility of one window operation under the auspices of Board of Investment.
Speaking on the occasion the Italian Foreign Minister said that Italy will continue to work on the platforms of FoDP and EU to support the case of free trade for Pakistan. He said that the New York meeting had demonstrated that Pakistan was not alone and that the world community was more than willing to support it. He said that Italy would play its role to make Pakistan economically strong and stable as “prosperous Pakistan was essential for regional peace and stability”.
He made this offer during his address to a select gathering of Italian businessmen and industrialists gathered in the auditorium of Italian Foreign Ministry in Rome that was also addressed by the Italian Foreign Minister and a number of business tycoons besides the Chairman of Pakistan’s Board of Investment Salim Mandviwallah who made a graphic presentation under the title “Pakistan-The Preferred Investment Destination” outlining what was on offer in Pakistan for those willing to bring in equity and business skills.
Talking to the media Spokesperson to the President former Senator Farhatullah Babar said that the President also identified the areas in which the Italian investors were welcomed to invest to the mutual benefit of the two countries and their peoples, says a press release received here from Rome today.
These areas, the President said, were food and agriculture, gemstone technology, marble quarrying and cutting, oil exploration, energy, textiles and leather value addition.
With the help of a large geo strategic map displayed on the screen the President demonstrated to the entrepreneurs how Pakistan was strategically located in the region that made it closer to half of mainland China, large parts of India and the whole of Central Asia than from any port anywhere in the world. This strategic location, the President said, “gives access to a huge market of nearly two billion people that was unique in the business world”.
He said that the coming together of the world on the platform of Friends of Democratic Pakistan to assist Pakistan in economic development, the country’s strategic location in a huge market and a specially designed business friendly environment of public private partnership devised by the government all “created a dream world of opportunities in business, trade, commerce and industry”.
From the Special Economic Zones the Italian investor can export goods and manufactures to part of the world the President said adding that it was an unprecedented opportunity that no investor could ignore.
President Zardari said that Pakistan had vast reserves of untapped and unutilized coal adding, “Gasification of coal is another area where the Italian investor can come to mutual benefit”.
President Zardari said that the democratic government had introduced major economic reforms to create a favorable environment for investment in the country. These reforms he said included tax reforms, devolution, Fiscal Responsibility and Debt Act, governance transparency, capital market reforms, agriculture sector reforms and access to justice, judicial reforms and civil reforms. For these reasons he said that Pakistan had recently been ranked number two, second only to Singapore, as the country in South Asia that was the easiest for doing business in.
Salim Mandviwallh explained the incentives offered which he said included full repatriation of capital and dividends, permission to raise local and foreign finance, avoidance of double taxation agreements with 52 countries and bilateral investment promotion and protection agreements with 47 countries. He said that under new policy Pakistan offered level playing field to both local and foreign investors and also opened all economic sectors to direct foreign investment.
The President said that Italian investors could avail five year tax holiday in the special zones. They will also be allowed duty free imports of plants and machinery and the facility of one window operation under the auspices of Board of Investment.
Speaking on the occasion the Italian Foreign Minister said that Italy will continue to work on the platforms of FoDP and EU to support the case of free trade for Pakistan. He said that the New York meeting had demonstrated that Pakistan was not alone and that the world community was more than willing to support it. He said that Italy would play its role to make Pakistan economically strong and stable as “prosperous Pakistan was essential for regional peace and stability”.
0 Response to Pakistan - President Asif Ali Zardari today invited Italian businessmen and entrepreneurs to invest in Pakistan
Post a Comment