Khyber Pakhtunkhwa unveils Investment Opportunities in the region at the Pakistan Pavilion at Expo 2020 Dubai
The third-largest province of Pakistan with a population of over 40 million people, located strategically close to Afghanistan opening the gates of Central Asia, KPK is ripe for investment. The region is blessed with natural resources, fertile agricultural lands, abundant water supply empowering the development of the industrial sector. The government of KPK has incentivized Special Economic Zones to attract domestic & international investment.
In order to accelerate the economic growth of the region, the government is focused on creating a holistic ecosystem for industries to thrive and in turn increase employment opportunities. The business environment is secured by 100% government banking, access to financial support, incentivized by 0% income tax and import duty on machinery and equipment, ample mineral resource availability, access to the largest domestic and central Asian markets.
KPK has facilitated the development of 18 economic zones across the region connected to different markets and export hubs, all equipped with the latest infrastructure. The Rashkai special economic zone is the flagship project of the government of Khyber Pakhtunkhwa, being developed under the industrial cooperation of China Pakistan Economic Corridor (CPEC). More than $800 million of investment has already been mobilized for Rashkai with the economic zone catering to Steel, Electronics, Food & Beverage, Mineral Processing and Pharmaceutical sectors.
Speaking at the conference, Mr. Hassan Daud Butt, CEO KP-BOIT, said “We are extremely grateful to the KP business community in UAE for showing us support. We have an ambitious growth plan for our region and are constantly striving to make policy improvements and amendments to create a conducive business environment.”
Mr. Daud further detailed the incentives the government is providing to investors and emphasized that now is the opportune time for investors to look at KP to expand and scale their business.
Mr. Javed Khattak, CEO KPEZDMC delved deep into the investment opportunities available in special economic zones along with the details of businesses, raw material and sectorial briefs that KP has to offer. He detailed the development of the Rashakai and Daraban Special Economic Zone, Bannu, Mohmand, Ghazi, Chitral Economic Zone and Salt and Gypsum City, Karak.
The last year saw major investment announcements from Coca Cola Pakistan, pledging to invest $50 million to set up their production plant in KP. Sapphire group, premier textile manufacturing company in Pakistan has also announced investments in the region.
Moreover, 06 Letters of Intents were signed with the investors based in United Arab Emirates to facilitate in establishing industries in Khyber Pakhtunkhwa. Formal MOUs will be signed with Government of KP during KP Investment Cconference on16th January, 2022 in presence of CM KP Mr. Mahmood Khan. The companies are interested to invest Marble and Granite, Hospitality, Telecommunication and Tourism Sectors of Pakistan.
Mr. Malik Hasan Afzal, Consul General of Pakistan graced the event as the chief guest. Also present on the occasion were, Mr. Charles Schnieder, Country Representative of IFC, World Bank, Mr. Yaqoob Sheikh, MNA Pakistan, President Pakhtun Business Association and leading investors from UAE, Mr. Adil Salahuddin, COO, KPEZDMC and Mr. Sajjad Hameed, GM KPCTA.
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