Italy plans establishing three centres of excellence in Pakistan

ISLAMABAD: Italy plans establishing three centres of excellence here in Pakistan, to promote value addition and further develop denim, leather and the mining industry.

Pakistan provides limitless opportunities for prospective investors from around the world and that the current government is leaving no stone unturned in ensuring that Pakistan becomes an attractive heaven for foreign investors.

This was said by Federal Minister for Aviation and Privatization Muhammad Mian Soomro when the Italian Ambassador to Pakistan Stefano Pontecarvo called on him here in Islamabad.

The two discussed a wide range of issues concerning the friendly relations between the two countries. Federal Minister highlighted the many steps that the current government is taking to facilitate investors from around the world, including streamlining the process that investors go through to invest in Pakistan.

Part of that plan includes formulating a one window operation so that all necessary documentation and requirements to be fulfilled by investors could be dealt with swiftly.

Minister also stated that the government is committed to charting a course forward that will increase the ease of doing business in Pakistan.

He highlighted many opportunities that Pakistan has to offer in terms of investment for Italian investors particularly in marble and stone sector, textiles and the car making industry.

Pakistan’s cheap labour force and ideal location is worth exploiting by investors, added the minister.

The Minister also stated that there was immense potential in the marble industry in the Thar region where exceptionally unique coloured marbles could be mined. It would be more beneficial for all parties involved if polishing plants were established in the region so that costs could be cut, added the Minister.

Soomro stated that there were plenty of investment opportunities for investors in the Onyx industry in Balouchistan. He also appreciated the fact that Italy has a long history of innovation in technology and that this sharing of technology with Pakistan would be beneficial for the economy of the country.

He was of the opinion that with the growing economy of Pakistan, there are multiple avenues for investment in infrastructure development, avenues which he believed Italy could explore. Soomro was especially keen on Italy’s assistance in development of the rail network in Pakistan, which the minister added had immense potential.

The Ambassador shared the fact that Italian investors are interested in investing in Pakistan and acknowledged the steps taken by the current government in improving the investment environment in the country.

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