ADB scouting investment ventures

ISLAMABAD: Asian Development Bank’s (ADB) private sector team, currently visiting Pakistan, is scouting for opportunities to invest in private ventures, an official of the regional financing institution said on Monday.

“The ADB is prepared to help by bringing in their expertise for formalisation of different policy frameworks as well as by linking the private sector investments with investment opportunities in Pakistan,” Werner E Liepach, Director General Central West Asia Development, ADB, said in a meeting with Haroon Sharif, chairman Board of Investment (BoI) at his office.

Liepach, who visited the BOI headquarters with an ADB delegation, also said the development bank was keen to enhance connectivity for trade and investment with Central Asia as well.

Sharif said the ADB could assist Pakistan by providing expert technical advice to the board as well as by creating a fund to finance and address the shortcomings in the existing seven Special Economic Zones.

Sharif told the ADB official that the government was in negotiations with five international hospitality chains that are planning to invest in Pakistan’s hospitality and tourism sector.

“The investors have also shown great deal of interest and at least five multinational hospitality chains are in talks with BoI on their investment plans,” the board chief added.