French firms invited to invest in IT, telecom

ISLAMABAD: Pakistan on Tuesday invited French firms to invest in information technology and telecom sector to benefit from an untapped investment potential amid the pandemic that presents opportunities for digital economy.

Minister of State Atif Bokhari said the Board of Investment (BOI) would provide complete support and create a win-win situation for both countries and the businesses.

“Board of Investment will facilitate French companies, through special interventions for creating linkages with major chambers and associations of trade and industry, in forming joint ventures with local and foreign companies and becoming part of global value chain,” Bokhari, who’s also chairman of BOI, said, addressing a webinar. The webinar was organised by MEDEF (Mouvement Des Enterprises De France) International and moderated by Thierry Pflimlin, president of Total Global Services. Ambassadors, along with business leaders from power, technology, financial services and other sectors, attended the session. BOI chairman said IT has emerged as one of the most significant sectors for the future, in the backdrop of the recent global emergency. Bokhari said Pakistan follows a liberal investment regime and a market-oriented economy, with a rapidly growing private sector. He said 100 percent equity ownership in manufacture and infrastructure industries is allowed in the country, along with 100 percent repatriation of capital and profits/dividends.