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Punjab signs 20 deals in Dubai to attract UAE investments

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LAHORE: As many as 20 memoranda of understanding (MoU) were signed during Punjab International Business Conference organized in Dubai International Financial City.

Speaking on the occasion, Provincial Minister for Industries, Commerce, Investment and Skill Development Department Mian Muhammad Aslam Iqbal while witnessing the signing ceremony said that Punjab is rapidly becoming the destination of choice for investments with a total potential investment of Rs 45 billion in the pipeline across various sectors from around the globe.

The Punjab International Business Conference was organized by the Punjab Board of Investment and Trade (PBIT) as part of their #PunjabEase Going Global initiative and promotion of Punjab at the Pakistan Pavilion, Expo 2020 Dubai.

The conference was hosted by the Minister of Industries, Commerce, Investment, and Skill Development Department of Punjab, Mian Muhammad Aslam Iqbal on behalf of the honorable Chief Minister of Punjab, Sardar Muhammad Usman Buzdar.

Punjab Minister for Finance Hashim Jawan Bakht, Provincial Minister for Higher Education Raja Yasir Humayun, Ambassador of Pakistan to the UAE Afzaal Mahmood, SACM on PHA and Tourism Asif Mehmood and CEO PBIT Dr Erfa Iqbal were also present at the Conference, along with a number of local dignitaries, members of the local and international business community, Pakistani diaspora, and investors from the UAE.

Mian Aslam Iqbal said that the province has not only witnessed new international brands investing in Punjab but also the existing local and global players have expressed satisfaction and enthusiasm by expanding their presence and operations.

Minister for Industries introduced two new initiatives being undertaken by the Government of Punjab, in an effort to promote and facilitate investments and the growth of start-ups in the province.

The first initiative is the Investment Portal, an online resource centre that is being launched to aid investors and the business community in Pakistan and abroad. This is being launched in parallel with the start-up moot and project exhibitions being displayed at the Pakistan Pavilion, to ensure the timely facilitation of actual or potential investors.

The second initiative is the UAE Help Desk, an office space being set up in the United Arab Emirates, by the Government of Punjab that aims to attract investment to Punjab from the UAE business community.

Provincial Finance Minister Hashim Jawan Bakht further highlighted the importance of Punjab as Asia’s next business hub. He said that this conference provided a very promising glimpse into the economic future of the province, consequently attracting a large amount of interest from the esteemed audience.

Ambassador Afzaal Mahmood said that the investors’ confidence in the growth story of Punjab even amidst the Covid-19 crisis is a testimony to the government’s strong infrastructural and policy framework”.

The conference focused on Punjab’s economic prowess and the numerous investment opportunities it presents to the world. Dr Erfa Iqbal CEO of the PBIT presented a comprehensive case of highlighting the potential for businesses and investments in Punjab, emphasizing the fact that the province was on its way to becoming the next investment destination of choice for investors all over the globe.

PBIT continues to impress and inspire at the Expo 2020 Dubai, fulfilling its goal of securing Punjab’s future as the land of investment and opportunity.

#PunjabEase at the Pakistan Pavilion is currently showcasing the history, multiculturalism, hospitality, contemporary entertainment, and emerging modernity of the province via a series of concerts, seminars, business conferences, and webinars by various departments of the Government of Punjab.

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