Canada to invest in IT, telecom, mining
ISLAMABAD – Canadian business delegation has expressed keen interest to invest in the fields of IT, Telecom, Mining, Minerals and Agriculture.
The delegation comprised Stewart Hall, President of Canadian Chambers of Commerce and Industry, Vice President Strategy Tec, Shariq Qureshi and President Milcon Gulf Group; Shameem Qureshi met with Chairman Board of Investment (BOI), Waseem Haqqie on May 11.
Appreciating the liberal policies and opportunities of investment in Pakistan, Stewart Hall admitted that perception of Pakistan is fast changing in positive direction in Europe and America and there will be more and more foreign companies coming to Pakistan to explore the possibilities of investment in different sectors.
Chairman BOI gave an overview of investor’s friendly policies in various sectors including IT & Telecom, Oil & Gas etc.
The presence of more than 600 foreign companies including 300 multinational companies and 70 quoted on Stock Exchange are indicative of the fact that Pakistan is now better placed for investment in the region.
Explaining the salient features of liberal investment policy, the BOI chief pointed out that equal treatment to local & foreign investors is given in Pakistan, all economic sectors are opened to FDI, foreign equity up to 100 per cent is allowed, no government sanction is required, remittance of profits, royalty, technical & franchise fee is allowed.
Source: The News
Date:5/12/2004
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