May 11, 2022: Mr. Christian Boettcher, First Secretary, Embassy of Germany in Pakistan has informed that three German companies have decided to invest in Pakistan in the field of Cyber Security technology, said a press release on Tuesday.
Mr. Christian Boettcher and Mr. Muhammad Usman, Pakistan Representative at German Emirati Joint Council for Industry & Commerce (AHK) called on Secretary BOI Ms. Fareena Mazhar in her office to discuss cyber security technology investment opportunities in Pakistan. During the meeting, the outcomes of the recent German delegation that visited Pakistan were discussed.
Elaborating on the opportunities available in cyber security, Secretary BOI shared that Pakistan's I.T. industry is among the top 5 net exporters of the country. She added that there is zero Income Tax on IT exports till June 2025 with 100% Equity allowed for foreign investors.
Mr. Boettcher and Mr. Usman were appreciative of the potential of Pakistan's IT sector and said that they will soon be sharing their business proposals with BOI.
They further added that they intend to organize a business event for German companies in Pakistan by the end of June (subject to the Covid-19 situation) and shared that the purpose of the event will be match-making with Pakistani SMEs.
Another meeting was held between Secretary BOI and Mr. Paul Obers, CEO HATO, Netherlands which was also attended by Mr. Rizwan Majeed Khan, CEO, HATO Pakistan, Ms. Lianne Houben, Deputy Head of Mission, Embassy of Netherlands in Pakistan, and senior officers of BOI. During the meeting, the Deputy Head of Mission highlighted that there are abundant opportunities for investment in the agriculture sector of Pakistan.
Mr. Obers informed that HATO wants to set up its second plant in Pakistan for novel animal feed production. He added that the company will initially establish an R&D center in Pakistan and requested BOI’s support with regard to land acquisition.
Secretary BOI was appreciative of AHK and HATO’s interest in the Pakistani market and assured both parties of maximum support and facilitation from the Board of Investment.
Press Release
32615
