Italian businessmen keen to invest in Pakistan

ISLAMABAD: A delegation of Italian investors on Monday visited the Islamabad Chamber of Commerce and Industry (ICCI) and showed keen interest to invest in Pakistan's construction sector for solar power-based energy efficient residential industrial and commercial buildings.

The delegation representing Natali Construction Company of Italy led by Dr. Fabrizio Fava and Giacoma Natali was of the view that construction style in Pakistan was highly energy inefficient as lot of electricity was being wasted and said that their highly energy efficient construction technology and style could save 10 times energy cost in Pakistan.

The delegation was keen to immediately set up a branch in Pakistan to introduce their construction style and technology and also wanted to know about the taxation system of Pakistan.

The delegation said they were exploiting solar and geothermal energy in building structures which maintained comfortable temperatures both in summer and winter seasons.

The delegation said that their company was also building solar and biomass power plants and many other sources of alternative energy and they could help Pakistan in overcoming energy crisis by introducing energy efficient building structures in the country.

They sought the help of ICCI in setting up branch of their company in Pakistan.

ICCI acting president Sheikh Pervez Ahmed briefed the Italian delegation about investment opportunities for foreign investors in Pakistan.

He said construction was a booming sector in Pakistan as many big residential industrial and commercial construction projects were underway in major cities of the country.

He said China Pakistan Economic Corridor would start a new era of construction of mega projects in Pakistan and said it was high time that more Italian investors should explore Pakistan for investment and joint ventures.

He said Pakistan badly needed energy efficient constructions as the prevailing structures were wasting lot of electricity leading to more energy shortage in the country.

He said Pakistan was offering attractive incentives to foreign investors with 100 percent equity and repatriation of profits. He stressed that Italian investors should focus on Pakistan for investment in construction energy and other potential sectors to take maximum advantage of its liberal investment regime.

He assured that ICCI would extend all possible assistance and cooperation to Natali Construction Company of Italy for opening its branch office in Pakistan.