PAKISTAN EYES INVESTMENT IN SPECIAL ECONOMIC ZONES-Minister for Privatisation
 

Islamabad, July 12, 2010

Pakistan is keen on developing special economic zones for the potential investors from the Kingdom of Saudi Arabia and other Gulf Cooperation Council countries, Pakistan’s Federal Minister for Privatisation Senator Waqar Ahmed Khan said during an interview at Bahrain, says a message received here today from Manama.

Senator Waqar Ahmed Khan said there was a huge potential of investments in textiles, food processing and other agro-based industrial projects in the country and the initiative of setting up economic zones would reshape the entire philosophy of attracting foreign investments from brotherly countries like Saudi Arabia and Bahrain in various sectors.

“The availability of liquidity in the GCC and the strategic location of Pakistan coupled with investment friendly environment will serve as a key for attracting more investments from the GCC as a whole,” the Minister said.

“We have spearheaded major initiatives to reassert our position while seeking stronger financial and investment ties with Bahrain, Saudi Arabia, Qatar, Oman, Kuwait and the UAE.

Senator Waqar Ahmed Khan, who held fact-finding meetings with the top officials at the Kingdom’s sovereign fund Mumtalakat, said there exists a big window of opportunity for Pakistan to work more closely with Bahrain on findings ways and means for greater cooperation.

The landmark trade treaty of Bahrain with the US known as Bahrain-US FTA, he said, can be used as a launching pad for attracting Bahraini investments in the textile and other sector in agro-based industry in Pakistan.

“Bahraini investors can establish businesses in Pakistan with an aim to re-export by using Bahrain as a hub to the US market. Such projects could be either 100 percent owned by the Bahraini investors or in form of joint ventures but in any case such projects will have a profound impact on the development of trade, investments and commercial ties between the two brotherly countries,” he added