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German Conglomerate Keen to Invest in Pakistan

Islamabad: Ikea and Siemens have expressed an interest in investing in Pakistan in order to grow their footprint in the country, the Pakistani ambassador to Germany stated recently.

Read: CDA to Pursue Buses Track on Three Routes

The ambassador briefed Secretary Board of Investment, Fareena Mazhar, that the German multinational corporation Siemens is interested in investing in Pakistan’s Gwadar-Pasni railway and car sector.

While discussing potential investment opportunities in Pakistan, the ambassador stated that German firms were interested in producing hydrogen from Pakistan’s excess power.

During the discussion, the envoy was also briefed on the latest Bilateral Investment Treaty (BIT) developments and the newly authorized template by the cabinet.

Read: Government Mulls Construction of Large-scale Lng Terminal, Pipeline Network at Gwadar Port

The secretary stated that the Board of Investment will implement the new template following consultations with the foreign office, and the ambassador pledged his full cooperation in this respect.

Following Ambassador Faisal’s meeting with the secretary, BOI anticipates detailed discussions with German business titans in the near future.

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