ISLAMABAD – Adviser to the Prime Minister on Commerce, Textile and Investment, Razak Dawood on Tuesday said the Czech Republic investors would have huge investment opportunities in different potential sectors of Pakistan.
He said this in a meeting with the delegation of Czech-Pakistan Inter-Parliamentary Friendship Group led by Daniel Pawlas, said a press release issued here by BOI.
The meeting was aimed at discussing bilateral trade and investment relations and issues thereof.
The Adviser to the prime minister appreciated the technological expertise of Czech Republic in engineering and auto sector.
The adviser said Pakistan had taken various effective steps to improve trade procedures by establishing better trade facilitation regime.
Dawood also informed the delegation regarding enormous investment opportunities in technology up-gradation of whole value chain of textile sector as the textile manufacturers were using very old technology which was eroding their competitiveness.
Further he appraised the delegation that Special Economic Zones (SEZs) provide incentives to investors by allowing duty free import of machinery besides tax holidays for ten years and urged the Czech Republic companies to make investment in these zones to get better returns on their investments.
The head of the delegation Daniel Pawlas, urged to have more extended interaction on bilateral trade and investment relations in order to establish long term economic ties between both the countries.
He also stressed to explore mutual areas of interest for the investment in trade and industry related projects.
In this regard, he extended the invitation to the relevant Pakistani officials to visit Czech Republic so that untapped potential of bilateral investment can be explored for mutual economic benefit; which in return will create job opportunities in Pakistan as Czech Republic was deficient in labor force.
The big companies of Czech Republic were interested to invest in different projects, pertaining to manufacturing of technology and energy equipment of mutual interest.
