The Sindh government has offered a special economic zone in the province to Korean investors with incentives and tax exemption. The provincial government disclosed this on Saturday on the return of a delegation headed by Chief Minister Qaim Ali Shah from Seoul, Korea that was there to attend the Korean Overseas Investment Fair-2011. The Sindh Board of Investment had set up a pavilion at the fair along with 32 other countries including France, Switzerland, India, Thailand and Japan.
“The Sindh government, in principal, has agreed to offer an exclusive enclave to Korean entrepreneurs to set up their businesses with tax incentives and tax exemption,” Adviser to the Chief Minister on Investment Zubair Motiwala said in the address he delivered at a seminar held at the fair. According to an official handout issued from the Chief Minister’s House, Motiwala informed the participants of the Seoul fair that such a special economic zone would offer a domestic environment to prospective Korean investors.
The seminar concluded with an enthusiastic response from the Korean business community for setting up industries in such zones that include renewable energy, recycling industry and manufacturing plants.
Speaking at the seminar, Chief Minister Qaim Ali Shah highlighted the opportunities and facilities available for intending investors in Sindh. Shah invited them to come to the province and fully avail the opportunities of investment and transfer latest technology to the people of Pakistan.
On the occasion, speakers from the Korea Trade and Investment Promotion, the World Bank Multilateral Investment Agency and the UNCTAD gave detailed presentations on the project. Later, the chief minister inaugurated the Korea Overseas Investment Fair along with 12 other dignitaries. The chief minister made a commitment that the Sindh government will do its best for promoting investment in the province.
The Sindh Board of Investment also held a country-specific seminar along the sidelines of Korean Overseas Investment Fair. Sindh Investment Secretary Mohammad Younis Dagha in his detailed presentation highlighted the projects of wind energy, mass transit, infrastructure development of the Karachi Education City and the Marble City, which are being very enthusiastically pursued by the Sindh Board of Investment.
Sindh Coal Secretary Aijaz Ali Khan gave a detailed presentation to the Korean business community and invited them to join hands in developing the Thar coal reserves, which can rid the country from its economic problems. Considering the Korean expertise in aqua culture fisheries, Laeeq Ahmed Memon presented the Sindh government’s investment opportunities for technology transfer and investment in the fishing and livestock sectors.
The Public Private Partnership Unit director general gave a presentation on various projects that are being offered under the public-private partnership mode of investment. Ambassador of Pakistan in Korea, Shaukat Mukadam in his address told the Korean business community that his office would facilitate all their initiatives for investing in Pakistan. Choongji, Ambassador of Korea to Pakistan accompanying the Pakistani delegation, told the Korean business circles that Pakistan is an opportune destination for investment and his mission would ensure all possible support to intending Korean firms looking forward to investing in Pakistan.
