Trust Investment Bank chief vows to bring $2b FDI in Pakistan



Trust Investment Bank Chairman Dr Jung Sang Lee Wednesday vowed to bring US $ 2 billion foreign investment in the country to boost its economic condition.
“We are committed to enhancing the volume of foreign investment up to US $10 billion during next eight years in various sectors including agriculture, manufacturing, information technology and alternate energy for flourishing the local economy”, he said while addressing press conference along with the directors Trust Investment Bank, Farah Azeem Shah, Asad Ali Kazmie, Mujtaba Abbasi, Maqsood Ahmad Butt and Minister/ Deputy Chief of Mission, Embassy of Japan in Islamabad, Yusuke Shindo here at the National Press Club.
He said, “We will execute these investments through the Trust Investment Bank, Pakistan and government institution including Board of Investment (BOI) for proper channelization of foreign investment in different sectors”.
He said that Pakistan have huge potential to reach in the rank of developed nation during the next 10 years for which investment needed to enrich the human resource capital to sustainable development.
Dr Li said that he hailed from North Korea and in 1960 his country adopted the five year plan of Pakistan designed by Pakistan Ex- Finance Minister Mahbood ul Haq, which gave a turn around to our economy and now North Korea had been evolved as one of the biggest economy not only in pacific region but also at global level.
He said that Prime Minster Imran Khan was following the aggressive economic agenda and he has aspiration for bringing maximum Foreign Direct Investment for economic stability and growth and said that Trust Investment Bank, Pakistan was agreed to work with government of Pakistan and current economic team.
Dr Lee ( The propose Chairman TIBL) and his people would also be organizing a conference in summer of next year, which would be hosted by Trust Investment Bank where in top bank/bankers and other investors will be encouraged to attend and speak and look to bring financing through investment and commercial banking sector in Pakistan.
He said, “We are already working on programme for enhancing the skills and different trainings for local youth to enhance the capacity and equip them with modern technology tools”.
He said that Pakistan have huge youth dividend, which could play big role for development and they must need required skills and training for getting good employment opportunity in the industry and other corporate sector.
Dr Jung Sang Lee said, “We would merge more financial institutions and investing into the support units as insurance as well so that the investment could bring into the country”.
The bank would open representative offices internationally to attract foreign investment and take Pakistani companies to bigger platforms and giving access to international stock market.
While addressing the press conference, Director Trust Investment Bank, Pakistan, Mujtaba Abbasi said that for bringing foreign investment, Pakistan needs to provide conducive business environment as already the government was working on World Bank’s ,”Ease of Doing Business.” He said that the government has been working on EODB and also improving ranking, which was better sign for attracting the foreign investment in the country.—Agencies

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