Pakistan lures investment from Italy 

ISLAMABAD: Pakistan on Tuesday sought investment from Italy in infrastructure developments and industrial setups as the country offers incentives and tax relaxation to foreign companies.

 “Pakistan with an investment-friendly atmosphere offers attractive opportunities for foreign investment, including joint ventures and there is a tremendous potential for foreign investments,” Murtaza Jatoi, minister for industries and production said in a meeting with Giuseppe Zampini, president of Ansaldo Energia, the largest power engineering company in Italy and fourth largest in the world. 

High commissioner of Italy also attended the meeting. Jatoi said Pakistan is looking for strengthening relations with Italy. He said the economy is progressing and initiatives taken by the present democratic government have created investment friendly environment in Pakistan for the international community to invest in industries and infrastructure developments. 

‘’Industrial corporation mutual trade and people to people contact may be increased for strengthening of bilateral relations,” he added. Zampini said Ansaldo Energia is a leading international player in the power generation industry, to which it brings an integrated model embracing construction of turnkey power plants (gas steam turbines, generators and microturbines).

The automobile industry was also discussed during the meeting. The ambassador asked for promotion of Italian auto companies in Pakistan.  Italy is member of the G8 industrialised nations, the European Union (EU) and the Organization for Economic Cooperation and Development.  Bilateral trade between Pakistan and Italy is more than one billion dollars – 15 percent of trade with the 28-member EU block – with balance of trade standing nearly equal.