ISLAMABAD, Sep 22 (APP):Ambassador of Pakistan to Belgium, Luxembourg and the European Union Zaheer A Janjua Tuesday said the Government of Pakistan was offering a number of incentives to foreign investors to facilitate them.
During a virtual meeting with a leading Belgian manufacturing company Ontex Group in Brussels, Ambassador Janjua said, “Pakistan is considered to be the top investment friendly destination in the region with its investor-friendly policies.”
He said Pakistan was gaining trust of the foreign investors as a lucrative investment destination, due to improvement in regulatory environment and by promoting private investment across the country under its economic reform agenda
The ambassador highlighted that the government had identified Special Economic Zones (SEZs) with lucrative investment opportunities. Similarly, Export Processing Zones were being established to increase exports from Pakistan, a press release quoted him as saying.
President AMEAA (Americas, Middle East, Africa and Asia) of the Ontex Group Armando Amselem briefed the ambassador about the company’s existing investment portfolio in Pakistan.
Amselem also shared his company’s plans to enhance its production facility by investing a further 10 million Euros.
Ontex is a leading manufacturer of disposable hygiene products for children and adults, cosmetic products and medical gloves with production facility in Karachi. Ontex Group is broadening its portfolio with new product lines and export to Indonesia, Bangladesh, Sri Lanka and Maldives.
The ambassador noted that due to Pakistan’s investor-friendly policies many European companies operating in Pakistan were earning many fold higher profits as compared to their numbers globally.
Accordingly, there had been an upsurge in investments from many multinational corporations in Pakistan in the recent past, he added.
