KARACHI: Sindh Board of Investment (SBI) and Swiss Business Council (SBC), for the last two years, have been closely cooperating to boast foreign investments in the province of Sindh.
On 31 July 2017, the two renewed this cooperation through a Memorandum of Understanding (MoU) signed by Mr. Farhat Ali – President SBC and Mr. Manzoor Ali Shaikh – Director SBI at the ceremony held at Consulate General of Switzerland in Karachi in the presence of – Mr. Philippe Crevoisier – Consul General of Switzerland in Karachi& Ms. Naheed Memon – Chairperson SBI, SBC Managing Committee Members, and other business leaders.
Mr. Ali stated that under the said agreement, SBC, through the support of its business partners in Switzerland, shall mobilize Swiss Investor’s interest in Pakistan, whereas, Ms. Memon stated that SBI shall facilitate these investors through its one window facilitation operation on matters related to government procedures such as permits, land acquisition, legal frame work and similar.
SBC has similar cooperation agreements with other provinces such as Punjab Board of Investment and Trade (PBIT).
The SBC, established in 2008, is a legal entity registered with Securities & Exchange Commission of Pakistan. SBC’s 53 member companies, with 21 of them as large multinational companies, have their foot prints in Pakistan in the field of healthcare, engineering, energy sector, water, cement, textile, pharma, chemicals,food and agriculture, banking, hospitality sector, education, infrastructure and similar.
The land mark achievement of SBC in the last two years has been the addition of the foot print of six new Swiss SMEs in Pakistan through Swiss investments, Joint Ventures, Technology Transfer and bilateral trading. SBC’s target is to mobilize the foot print of six more Swiss SMEs in Pakistan in the year 2017-18.
It is encouraging that foreign investors are once again looking at Pakistan with interest specially the SMEs who consider Pakistan as a growing market with expanding consumer base. China-Pakistan Economic Corridor (CPEC) has spurred the business environment in the country.
Mr. Crevoisier said that the response of the Swiss Investors and business leaders at number of Business and Investment events organized by SBC’s Business delegation to Switzerland in early July 2017, in collaboration with the Business Chambers of Switzerland, was very encouraging. The level and quality of participants was meaningful and promising which cumulated in better understanding of the changing business and political dynamics in Pakistan and the region, and the benefits which CPEC offers to foreign investments. PR