Punjab becoming destination of global investments: minister

LAHORE: Punjab is rapidly becoming the destination of choice for investments with a total potential investment of Rs45bn in the pipeline across various sectors from around the globe, said Minister for Industries, Commerce, Investment and Skill Development Department Mian Aslam Iqbal while witnessing the signing of around 20 MoUs during the Punjab International Business conference organised in Dubai International Financial City.

The conference was organised by the Punjab Board of Investment and Trade (PBIT) as part of their #PunjabEase Going Global initiative and promotion of Punjab at the Pakistan Pavilion, Expo 2020 Dubai.

The conference was hosted by Mian Aslam Iqbal on behalf of Chief Minister Usman Buzdar. Minister for Finance Hashim Jawan Bakht, Minister for Higher Education & IT Raja Yasir Humayun, Ambassador of Pakistan to the UAE, His Excellency Afzaal Mahmood, SACM on PHA and Tourism Asif Mehmood and CEO Board of Investment and Trade Dr Erfa Iqbal were present at the conference, along with a number of local dignitaries, members of the local and international business community, Pakistani diaspora, and investors from the UAE.

Mian Aslam Iqbal said that the province has not only witnessed new international brands investing into Punjab but also the existing local and global players have expressed satisfaction and enthusiasm by expanding their presence and operations.

He introduced two new initiatives being undertaken by the Punjab government in an effort to promote and facilitate investments and the growth of start-ups in the province. The first initiative is the Investment Portal, an online resource centre that is being launched to aid investors and the business community in Pakistan and abroad.

This is being launched in parallel with the start-up moot and project exhibitions being displayed at the Pakistan Pavilion, to ensure the timely facilitation of actual or potential investors. The second initiative is the UAE Help Desk, an office space being set up in the United Arab Emirates, by the government that aims to attract investment to Punjab from the UAE business community.

Finance Minister Hashim Jawan Bakht highlighted the importance of Punjab as Asia’s next business hub. He said that this conference provided a very promising glimpse into the economic future of the province, consequently attracting a large amount of interest from the esteemed audience.

Afzaal Mahmood said that the investors’ confidence in the growth story of Punjab even amidst the Covid-19 crisis is a testimony to the government’s strong infrastructural and policy framework”.

The conference focused on Punjab’s economic prowess and the numerous investment opportunities it presents to the world. Dr Erfa Iqbal, CEO of the Punjab Board of Investment and Trade, presented a comprehensive case of highlighting the potential for businesses and investments in Punjab, emphasising the fact that the province was on its way to become the next investment destination of choice for investors all over the globe.

Board of Investment and Trade continues to impress and inspire at the Expo 2020 Dubai, fulfilling their goal of securing Punjab’s future as the land of investment and opportunity.#PunjabEase at the Pakistan Pavilion is currently showcasing the history, multiculturalism, hospitality, contemporary entertainment, and emerging modernity of the province via a series of concerts, seminars, business conferences, and webinars by various departments of the government, he said.