KP’s environment conducive for foreign investment: CM

PESHAWAR: Khyber Pakhtunkhwa Caretaker Chief Minister Muhammad Azam Khan has said that the provincial government will always welcome foreign investment for the development of the province and the well-being of people.

The province will extend all possible support to foreign investors willing to invest in the region, he said while talking to a delegation of US-based private investor firms which called on him here on Wednesday.

Caretaker Provincial Minister for ST & IT Najeebullah and other relevant authorities were also present on the occasion.The chief minister said that since the province suffered a lot due to regional issues prevailing for the last several decades, it needed more investment, especially in the fields of Science & Technology and Information Technology.

He said the overall environment for foreign investment was also conducive in the province.It was stated on the occasion that TRAM, a US-based investment firm, had agreed to invest 100 million US dollars for the development and growth of start-ups and growing companies in Khyber Pakhtunkhwa; and an MoU in this respect had already been signed between the department of ST & IT and TRAM.

It was further told that the investment will be deployed across a range of sectors including Information Technology, Fin-Tech, Bio-Tech and Artificial Intelligence.Similarly, the department of ST&IT has inked a MoU with another US- based company TINGO with the aim of rolling out its proven business model in the region, and accelerating digital transformation.

The chief minister thanked the delegates for their investment in the province, and assured them all-out support of his government to make the initiative successful and beneficial to both the parties.