Islamabad, Oct 7: Pakistan scouts for foreign investment in maritime
Federal Minister for Maritime Affairs Qaiser Ahmed Shaikh chaired a meeting on Saturday with representatives from Malaysian companies, including Felda Global Ventures and KLK Malaysia, alongside the Westbury Group from Pakistan.
The primary focus of the meeting was to discuss avenues for foreign investment in Pakistan’s maritime sector.
According to a statement released by the Ministry of Maritime Affairs, the Malaysian representatives reiterated their dedication to expanding business operations through Pakistani ports.
This meeting coincides with a three-day visit by Malaysian Prime Minister Anwar Ibrahim to Pakistan, during which discussions spanned various sectors, including tourism, agriculture, and defense.
Support for Foreign Investors
Minister Qaiser Ahmed Shaikh assured the Malaysian firms of Pakistan’s commitment to supporting foreign investors. He mentioned that the Port Qasim Authority, Karachi Port Trust, and other organizations under the Ministry of Maritime Affairs are actively working to address the concerns of importers and exporters.
He emphasized that his office remains open to investors and encouraged foreign investors to approach him directly if they encounter any challenges.
Recent Developments
Highlighting recent developments in the maritime sector, the minister noted that a memorandum of understanding (MoU) was signed with the Danish government, which includes a $2 billion investment from Maersk in Pakistan’s maritime industry. This investment demonstrates the increasing confidence of foreign investors in Pakistan’s economy.
Strategic Importance of Ports
Minister Shaikh underscored the critical role of ports in the success of the China-Pakistan Economic Corridor (CPEC) and confirmed that upgrading efforts for all major ports, including Gwadar Port and Karachi Port, are underway.
The meeting marks a significant step toward enhancing foreign investment in Pakistan’s maritime sector, with Malaysian companies showing a strong commitment to expanding their operations.
The government’s proactive approach and ongoing upgrades to port facilities are aimed at fostering a conducive environment for foreign investors, reinforcing Pakistan’s position as a key player in the maritime industry.
