ISLAMABAD: Pakistan has a huge potential for investment in the tourism sector, while the government is making all-out efforts to offer huge opportunities in the sector, an official said.

During a meeting with Ambassador of Portugal to Pakistan Paulo Neves Pocinho held at the BoI office, Board of Investment (BoI) secretary Fareena Mazhar said that Pakistan had a liberal investment regime and there were numerous opportunities for investment in Pakistan.

The secretary highlighted the investment opportunities available to foreign investors in Pakistan, and mentioned the 22 Special Economic Zones (SEZs) throughout the country, offering incentives in the realm of taxation, as well as on the import of machinery and plant.

She also elaborated that the SEZs are not aimed at benefitting any particular industry or country but encourage investors from all kinds of industries throughout the world.

The ambassador was also apprised of the lucrative opportunities that can be tapped in the three recently developed SEZs: Allama Iqbal, Rashakai and Dhabeji.

Fareena Mazhar also said that all the investment-related information is available on the BoI’s website and the application for SEZs can be submitted online through the SEZ portal.

While exploring possible areas of cooperation, the secretary drew the ambassador’s attention towards Pakistan being a top tourist destination and mentioned the countless forms of tourism available in the country, including cultural, religious and adventure tourism.

The ambassador expressed interest in forming mechanisms for joint ventures between the two countries and said that the business volume of Portugal and Pakistan is low and has room for expansion.

Currently, Portugal is exporting machinery to Pakistan and other potential sectors of investment in Pakistan could be energy and aeronautical industries, he added.

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