French Companies Keen to Invest in Ski Resorts in Gilgit Baltistan

French companies are looking to invest in the tourism sector of Pakistan, said the French Honorary Investment Counsellor, Federico Juan Tomas Espana.

While leading a French delegation in a meeting with the Board of Investment (BOI) Secretary, Fareena Mazhar, on Tuesday, he said that the French enterprises want to set up a ski resort in Gilgit-Baltistan.

Speaking at the occasion, Fareena Mazhar said that the recently-launched Investment Strategy 2020-23 aims to attract foreign investment to different sectors of Pakistan’s economy.

“The strategy provides a comprehensive investment cycle, consisting of policy advocacy, market research, and investment facilitation,” she said. “It offers protection to foreign businessmen through investor tracking, sector scanning, and aftercare services to investors and projects,” she added.

The BOI, in coordination with the GB government, has organized a tour of the French delegation to five districts of the region, including Ghizar, Phandar, Astore, Nagar, and Skardu.

The BOI secretary apprised the delegation that there were 22 Special Economic Zones (SEZs) in the country where the French companies could set up their businesses, or the government could establish an exclusive SEZ for French enterprises.

“In order to facilitate international investors in Pakistan, the Board of Investment has developed an online database in cooperation with federal and provincial governments,” she said, adding, “A total of 120 projects worth $60 billion are available on the organization’s website.”

She asked the delegation to visit the BOI website, which she said was ‘user-friendly, interactive and up to date,’ and had an incentive database for investors to see the complete set of relaxations on offer for specific sectors.