The meeting was held between Dr. Muhammad Sohail Rajput, Secretary Board of Investment and Mr. Yi Sung-ho Consul General of Republic of Korea at Board of Investment Regional office Karachi. The Secretary Board of Investment informed to Mr. Yi Sung-ho Consul General of Republic of Korea that Board of Investment is an apex body on investment to attract FDI in the country in different sector of the economy and working on Ease of Doing Business to provide conducive environment for the investors.
The Secretary Board of Investment emphasized that there is a huge potential in Pakistan economy. South Korean companies can invest in the project of Electric Vehicle (EV) and may establish infrastructure of charging stations in Pakistan. There is huge capacity to establish Electric Vehicle (EV) plant in Karachi, and have potential in IT Sector here in Pakistan.
The Korean companies can also invest in IT sector as well as.The Secretary Board of Investment further said that Pakistan is an ideal place for tourism especially the Northern areas of Pakistan. Pakistan is willing to enhance relations with Republic of Korea in trade and tourism sector.
There are an ample opportunities of cooperation in the cultural and tourism sectors, adding that Pakistan is a land of opportunities and South Korean firms can invest in the diverse industrial sector of Pakistan. Pakistan needed to push up trade, economic and investment relations through people-to-people contact. There is a need to create favorable conditions for the FDI and connect businesses through organizations and business associations.
The two countries have the potential to further deepen and expand bilateral cooperation in various areas including trade and investment, on the basis of mutual interest and friendly investment environment.Mr. Yi Sung-ho Consul General of Republic of Korea expressed his views that Korea has established IT Center in Islamabad, while 2nd IT Center will be established in 2024 at Karachi. The Counsel General of Republic of Korea informed that Korea is hiring 3000 workers annually from Pakistan. Next year Korea will increase quota of Pakistani workers from 3000 to 4000.
The Consul General said that he will invite Korean companies to invest in Pakistan in different sectors of economy. Korea is ready to increase economic cooperation with Pakistan to enhance bilateral trade between Korea and Pakistan. The meeting was attended by Mr. Zulfiqar Ali, Director General (Policy & Planning) Board of Investment, Islamabad, Mr. Aftab Ahmed, Director (Investment Facilitation) and Mr. Abdul Khalique, Assistant Director, BOI Regional office, Karachi.
