By Staff Reporter
ISLAMABAD: Pakistan on Friday invited US investors to make the most of the high-return investment opportunities that were up for grabs right now, especially in renewable energy as well as other sectors of the economy, a statement said on Friday.
An offer to this effect was made during a meeting between a delegation led by US Special Representative on Business and Commercial Affairs Dilawar Syed and Foreign Minister Bilawal Bhutto Zardari.
Both sides discussed ways to boost trade ties between the two countries.
The foreign minister welcomed the US envoy to Pakistan and acknowledged his role in improving business contacts between the two countries, according to a statement issued by the Foreign Office.
The foreign minister emphasised the importance of visits in deepening and expanding the relationship, in particular trade and commercial ties.
The special representative’s visit was a manifestation of the importance that both countries attached to improving trade and commercial relations, said the FM.
Bilawal noted the healthy momentum of engagement generated through dialogues on Climate Change, Health, Energy, and Trade and Investment Framework (TIFA).
The foreign minister invited the Development Finance Corporation (DFC) to increase investment in Pakistan, especially in clean energy, and projects for empowerment of women.
Highlighting that the US is Pakistan’s largest export market and a major source of investment, the foreign minister stated that Pakistan’s market offered US investors an opportunity to earn greater return on investments.
Special Representative Dilawar Syed thanked FM Bilawal for the meeting and expressed his satisfaction with the constructive engagements during his visit.
The Special Representative also hoped that Pakistan would continue to pursue technological advancement, which would facilitate investment and economic growth.
Syed said he was looking forward to playing an active role to achieve that common goal. Both sides agreed to follow up on all understandings reached during the special representative’s visit to Pakistan.
US eyes renewable energy, textiles, agriculture
Meanwhile, the US delegation also called on Finance Minister Miftah Ismail at the Finance Division. The session was attended by finance ministry officials.
The finance minister said the present government would undertake every required step for improving the energy sector, and enhancing exports and foreign investment.
The US delegates included Regional Policy Lead for Europe and Central Asia DFC, Gaia Self, and Economic Counsellor of US Embassy in Pakistan Dan Froats, and other officers.
The secretary finance and other senior officers were also present on the occasion.
The minister said the government was committed to provide a more conducive environment for the foreign investment, and was also promoting foreign companies, especially those involved in automobile and mobile assimilation for the promotion of exports.
The US delegation showed their interest in investment in various sectors, including wind renewable energy, and textile and agricultural sectors.
A US official said the DFC was planning to revise the PPAs (power purchase agreements) of its sponsored wind power projects depending on the support and cooperation of the government of Pakistan.
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