Eyes infrastructure, tech as minister offers duty concessions, profit repatriation
Saudi Arabia’s Falcon Vision Group has expressed interest in investing $10 billion in Pakistan, as Federal Minister for the Board of Investment Qaiser Ahmed Sheikh assured the delegation of full facilitation for investment in the country.
The minister held a meeting with a high-level delegation comprising business personalities, overseas Pakistanis and media representatives, according to the Board of Investment. The delegation included Muhammad Tariq Ghaus, Vice Chairman and President of Falcon Vision Company, based in Jeddah, and other senior representatives.
Sheikh reaffirmed the board’s commitment to providing full facilitation to investors at every stage, stating that the government is pursuing an active and investor-friendly policy to promote foreign investment and economic growth.
Ghaus briefed the minister on Falcon Vision’s operations, a diversified business group active in infrastructure, construction, technology and other industrial sectors. He said Saudi investors are seriously evaluating investment opportunities in Pakistan and have earmarked up to $10 billion for potential investments across various sectors.
Sheikh welcomed the development, describing it as a sign of confidence in Pakistan’s economy and investment climate. He emphasised that investors are being offered attractive incentives in Special Economic Zones, including income tax exemption until 2035 and duty concessions on machinery imports. Business Facilitation Centres are functioning as one-window platforms where registration, licensing and all other processes can be completed at a single location. Reinforcing investor confidence, Sheikh said 100% repatriation of profits is allowed in Pakistan and both local and foreign investors are treated without discrimination. Referring to energy costs and administrative hurdles, he said the government is taking effective measures to address these issues.
Maqbool, a delegation member associated with real estate projects including J7 Emporium, briefed the minister on plans for establishing a Special Technology Zone and stressed the need for synergy between Special Technology Zones and Special Economic Zones. The minister said the rules for SEZs have been amended, allowing private sector participation in zone establishment and management.
Colonel Jamshed informed the minister about a joint venture to establish a modern shopping mall in Chakwal, noting the district’s high literacy rate and skilled workforce.
