French delegation to visit GB for investing in tourism

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PAK 5 NEWS

ISLAMABAD, Oct 26 (APP):French delegation of businessmen has planned to visit Gilgit Baltistan to explore opportunities of investment in tourism sector.

The French Investors to Keen on setting up ‘Ski Resorts in Gilgit Baltistan’ and also see for other potential sectors for investment, said a press release issued by Board of Investment (BOI) here on Tuesday.

A French delegation led by Federico Juan Tomas Espana, Honorary Investment Councelor (HIC), France was received by the Secretary Board of Investment (BOI), Fareena Mazhar in her office.

Federico and the French delegates have expressed keen interest in investing in the tourism sector of Pakistan, particularly setting up ski resorts in Gilgit Baltistan region.

In order to facilitate the French delegation, the BOI, in coordination with Gilgit Baltistan government has organized their visit to GB’s five districts including Ghizar, Phandar, Astore, Nagar and Skardu. Upon their return from GB, the delegation will also meet representatives from the Ministry of Information and Technology and National Incubation Center (NIC) to discuss areas of mutual cooperation.

The recent development was an outcome of zoom meeting between the HIC and Secretary BOI, held on 21st September, 2021.

During the interaction with the French delegation, the Secretary BOI shared that BoI had signed an MoU with Business France for investment cooperation and facilitation, exchange of information and knowledge sharing.

As follow-up, various webinars were held and detailed presentations on investment opportunities, incentives, and policies were delivered by the BoI.

However, there was a dire need to enhance investment cooperation and coordination between the two IPAs, Fareena added.

She also apprised the delegation on the new Investment Strategy 2020-23 which has been launched recently to attract foreign investment in different sectors of the economy.

She shared that the strategy provided comprehensive investment cycle, consisting of policy advocacy, market research, investment facilitation, promotion, protection including investors tracking, sector scanning and after-care services to investors and projects.

The secretary also informed the investors about the 22 Special Economic Zones (SEZs) and invited the French companies to establish businesses in the already established SEZs or opt for establishing an exclusive SEZ for French companies.
She further said that in order to facilitate international investors in Pakistan, the BOI had developed an online database of available 120 projects with federal/provincial governments worth 60 Billion US$, available on the organization’s website.

BOI had also developed incentive database where investors can see the complete set of incentives being offered to any specific sector. Investors are urged to visit the BOI website which is user-friendly, interactive and holds comprehensive and updated information for investors, she added.

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