Hafeez terms Pakistan best potential destination for foreign investment

September 8,2020: Adviser on Finance and Revenue, Dr. Abdul Hafeez Shaikh says Pakistan's unique location makes it the best potential destination for foreign investment.

In a meeting with the delegation of FORTESCUE Metal Group Ltd Australia led by its Chairman Andrew Forrest in Islamabad today, he said that Pakistan has one of the biggest coal reserves located in Thar and there are rich copper and gold resources available in the country.

He shared that the country has the best locations for solar power generation and up to 80,000 MWs of hydel electricity production potential is available in the country.

The Adviser said with the country's significant progression on the Ease of Doing Business Index and the promulgation of Law of Special Economic Zones, Pakistan offers investment opportunities in energy, infrastructure, information and communication technology, textiles, apparel, surgical instruments, leather and footwear.

He said all these sectors offer favorable economic opportunities to the world for investment and trade.

The Advisor offered all possible cooperation from the Federal Government as well as all the relevant provincial and local government organizations to help them start and expand their business in Pakistan and add to the development and prosperity of the country.   

The Chairman Andrew Forrest briefed the Advisor that his Company, Fortescue, founded in 2003, has discovered and developed major iron ore deposits and constructed the most significant mines in the world. They have grown to be one of the largest global iron producers and are focused on the vision of being the safest, lowest cost and most profitable mining company. 

 Currently the company is consistently shipping around 170 million tons of iron ore per annum; he further added that Fortescue is seeking to expand globally through identification, evaluation, development and delivery of energy projects including large hydropower facilities and green industry.

Radio Pakistan