Malaysian entrepreneurs invited to invest in SindhJune 28, 2013
Karachi: Sindh Board of Investment (SBI) Chairman Muhammad Zubair Motiwala has invited the Malaysian investors to come to Pakistan and explore possibilities of investment and joint ventures in Sindh province because of its thriving industrial base, natural resources, well developed infrastructure, competitive human resource, two major ports, sophisticated communication network, modern financial & services sector and investor friendly policies of the government.
“We assure you that you would get the most promising destination for business and investment in Sindh,” he said while addressing a roundtable discussion attended by more than 30 business leaders and investors in Kuala Lumpur on Thursday.
Pakistan High Commissioner to Malaysia, Shahid Kiani and Pakistan’s honorary investment consular in Malaysia, Datuk Salim Fateh Din were also present.
Zubair Motiwala said Sindh, being the second largest province of Pakistan, was playing a pivotal role in the national economic and development agenda. He said the province had the country’s largest port city Karachi and it comprised 23% of Pakistan’s population and 18% of its land area. “With 23% of country’s population, its contribution to the national GDP is around 33% while the province collects 70% of Pakistan’s Income Tax and 62% of Sales Tax,” he said.
He said the Sindh province had also emerged as a hub of business and investment opportunities because of its rich natural resources. “Its competitive advantage rests on its strategic location as major seaports, along with its extensive industrial infrastructure, 350 km long coastline and the potential to generate renewable energy, abundant fertile land, plenty of agricultural, natural & mineral resources, better educational system, a young and educated workforce and a politically strong and stable government,” he said adding these opportunities had given the impetus for some of the world’s leading multi-national corporations to set up base in Sindh.
SBI Chairman also invited the Malaysian investors to explore the livestock sector in Pakistan for joint business ventures, saying the province of Sindh also offered huge opportunities in this regard. “Our strength is the fish industry which contributes 48% of fish exports while in the livestock we contribute 28% buffaloes, 27% cattle, 24% sheep, 28% camels and 40% poultry of the country,” he added.
Zubair Motiwala said the Sindh province was also home to around 60% of the country’s oil fields and 44% gas fields and contributing to 56% oil and 55% of Pakistan’s daily gas production. “We are also blessed with one of the largest coal reserves in the world (185 billion tones), a huge potential for renewable energy with 60 km wide and 180 km deep wind corridor,” he added.