Punjab fast becoming investors’ destination: minister

LAHORE: Punjab is fast becoming investors’ destination because the province has not only attracted new international brands but the existing local and global players have also expressed satisfaction and enthusiasm by expanding their presence and operations.

According to Industries Department’s spokesman, provincial Minister for Industries, Commerce and Investment Mian Muhammad Aslam Iqbal expressed these views, while witnessing the signing of around 20 memoranda of understanding during the Punjab International Business Conference held at the Dubai International Financial City.

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

The minister hosted the conference on behalf of Punjab Chief Minister Sardar Muhammad Usman Buzdar. The conference focused on the Punjab’s economic prowess and the numerous investment opportunities it presents to the world.

Provincial Minister for Finance Hashim Jawan Bakht, Minister for Higher Education and IT Raja Yasir Humayun, Ambassador of Pakistan to the UAE Afzaal Mahmood, SACM on PHA and Tourism Asif Mehmood and the PBIT CEO Dr Erfa Iqbal were also present at the conference that was also attended by local dignitaries, members of the local and international business community, Pakistani diaspora and investors from the UAE.

Mian Aslam Iqbal introduced two new initiatives being undertaken by the Punjab government in an effort to promote and facilitate investment and startups in the province.

The first initiative is the investment portal, an online resource centre that is being launched to help investors and business community in Pakistan and abroad.

This is being launched in parallel with the startup moot and project exhibitions being displayed at the Pakistan Pavilion to ensure 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 Punjab government that aims at attracting investment to Punjab from the UAE business community.

Finance Minister Hashim Jawan Bakht highlighted the importance of Punjab as Asia’s next business hub and 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.

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

Dr Erfa Iqbal 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 the investors all over the globe.

PBIT 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.

The ‘Punjab Ease’ 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 Punjab.

The Punjab Ease is highlighting the province as the next investment and business destination in a new light. These efforts are aimed at generating a consistent stream of foreign spending in Pakistan that will directly benefit the local businesses in the hotel and hospitality, estate development, and tourism industries for the long run.

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