Finance Minister Senator Mohammad Ishaq Dar had a meeting with the visiting Italian business delegation here on Thursday.
The delegation was led by Mr. Carlo Formosa, Dy. Director General, Italian Ministry of Foreign Affairs and included representatives of Bellelli Engineering, Electtronica, ENI, CNH, Finmeccanica, ICE, Mpaei, Beretta and SACE.
The senior executives of these reputed Italian firms shared with the Finance Minister their plans for possible investment in different areas in Pakistan including automotive industry, oil and gas, agriculture, security and aviation sectors. It was informed that following the recent announcement of auto policy by the government, Italian automotive companies are keenly looking for investments options in the auto sector.
“Pakistan has become fashionable in Italy, People have deep interest in visiting this country and explore investment opportunities”, said Mr. Carlo Formosa. He said Italy has the desire to see resurgence of Italian brands in Pakistan.
Finance Minister welcomed the investment plans of Italian companies and assured the members of the delegation of all possible cooperation and facilitation by the government. He expressed gratitude to the Italian Ministry of Foreign Affairs for the support and assistance provided for holding of “Pakistan Trade & Investment Forum” in Italy earlier this month. He said that the Special Economic Zones offer multiple business opportunities, which the Italian companies could look into. There are also opportunities to relocate manufacturing from other areas and regions, where it was no longer competitive, he said. He mentioned areas of renewable energy, auto and agriculture machinery manufacturing and invited Italian businesses to explore them in detail.
Minister Dar directed the Board of Investment, Ministry of Industries as well as Ministry of Petroleum and Natural Resources to maintain close liaison with the representatives of the Italian companies and provide them complete guidance for the purpose of investment in Pakistan.