Dawood invites Aussie inventors to invest in Pakistan

By Asad Cheema

ISLAMABAD: Advisor to the Prime Minister on Commerce and Investment Abdul Razak Dawood Monday hailed the Australian inventors to make investment in different sectors of Pakistan. A delegation of Fortescue Metals Group Limited, headed by the Chairman of the group, Andrew Forrest, visited the Board of Investment (BOI) here, said a press release issued here. The meeting was chaired by Abdul Razak Dawood and attended by BOI Chairman Atif R. Bokhari and Secretary Ms. Fareena Mazhar.
While addressing the meeting, Razak Dawood said the approach of the Fortescue Group was unique and it would result in transfer of knowledge and technology to Pakistan. He added that the workforce of Pakistan was quite capable of learning and adapting new technologies quickly and the investment would result in improving our labor market.
Razak Dawood underlined that the BOI would act as the focal point for the group and actively resolve any issues that may arise during different stages of materialization of their plans. He appreciated the approach of the group for giving employment opportunities to indigenous communities, which was also a benchmark for their investment plans in Pakistan.
In the meeting, the Fortescue group gave a presentation on their proposed plans for making investment in Pakistan. During the presentation, Fortescue group informed that Pakistan was one of the short-listed countries, which were being actively explored for investments. Andrew Forrest appreciated the support and enthusiasm of the Pakistan government.
He said the investment would focus on Green Industry, starting from generation of hydropower and development of industry in the associated land, which would be owned and operated by the Group with the help of local partners.
It was highlighted that active engagement from the government and local communities, sustainable environmental practices, rapid decision-making and speedy access to markets were the criteria considered for shortlisting of Pakistan as a potential destination.
Andrew Forrest said the investment from Fortescue Group would result in generating economic opportunities for local communities, employment and large-scale development of green industry for export market and domestic consumption.
In addition, it will result in diversification, broadening and up-skilling of the workforce in Pakistan. He added that Pakistan was one of the few countries in the world ensuring the gender balance in employment opportunities, saying, the group also made a plan to train and employ women to endorse the efforts of the government.
He said the group was a renewable energy to green industry developer, financier and operator, while it intends to invest in Pakistan to establish new technologies with zero carbon emissions, particularly Green Fertilizer and Green Steel production plants.
Over the last two days, the delegation visited some of the possible sites for their ventures. It was informed in the meeting that the sites in Pakistan have a lot of potential and value in terms of energy source, which can sustain the industry to support the future of Pakistan.
The group also appreciated the work already being carried out at various visited sites by the government. The meeting ended with both sides agreeing to work together for a strong and sustainable partnership to develop the green industry and support the future of Pakistan.