Highlights opportunities in IT, energy, agriculture and mining
Washington:
Pakistan’s Ambassador to the United States Masood Khan on Monday invited American entrepreneurs and business leaders to invest in Pakistan’s IT, energy, agriculture and mining sectors at a meeting in Washington, according to a press release from the Pakistan Embassy.
The ambassador highlighted the lack of shareholding restrictions, easy work permit regulations, no technology transfer requirements and Pakistan’s large entrepreneurial community, which the US International Trade Administration lists as advantages for American investors.
“A new body called the Special Investment Promotion Council (SIFC) has been set up to boost foreign inflows into these regions,” Khan said.
He noted that Pakistan is the fourth largest provider of freelancers in the world with over 20,000 registered ICT companies and the IT sector, especially tech start-ups, is growing rapidly.
He stressed that the power sector is a priority, with the country set to double its energy production from the current 45,000MW within 10 years and rapidly transition to renewable energy sources.
The Ambassador also highlighted Pakistan’s abundant mineral resources, including copper, gold, lead, zinc, iron ore, coal, lithium, rare earth elements, cobalt, aluminium, chromite and nickel.
“Pakistan is developing the talent and expertise to manufacture semiconductor chips for a range of electronic devices and generative AI-enabled devices,” Khan said. “Our lithium reserves, a key raw material for battery production, will contribute to sustainable energy solutions of the future.”
Khan added that Pakistan is modernizing its agriculture to increase yields of wheat, rice, cotton, lentil and soybean through the development of hybrid and climate-resilient seeds.
He detailed the various incentives the Pakistani government is offering across all investment sectors and encouraged American sovereign wealth funds and investors to invest in IT, energy, agriculture and mining.
