Following Pakistan’s participation in Expo 2020 Dubai, the Khyber Pakhtunkhwa province has signed more than 40 memorandums of understanding (MoUs), set to bring in foreign investment of around $8 billion to the region.
This month, the Pakistan pavilion has been highlighting the Khyber-Pakhtunkhwa province, home to tourist attractions, heritage sites, indigenous Kalash culture, historic Gandhara Civilization and more. This showcase is part of the country’s goal to attract more visitors and investors to the area.
Showcasing potential at Expo 2020
On Friday 14 January, special assistant to the chief minister on trade and industries, Abdul Karim Khanattended a conference at the Expo looking at investment opportunities in the Integrated Tourism Zones (ITZs) in Khyber Pakhtunkhwa. He said he hoped the region’s participation in the global event would help to boost its economy by attracting investors to the opportunities.
During the conferencea briefing was also given on the ITZs feasibility reports, as well as on a range of investment opportunities in Thandiani in Abbottabad, Ganol in Mansehra, Mankial in Swat, Water Sports Theme Park in Hund, Swabi, Madaklasht in Chitral and others.
After the event, four Letters of Intent for investment were signed.
Investors show interest
Following this, Khyber Pakhtunkhwa chief minister, Mahmood Khan, took part in another conference on investment opportunities in tourism, held on Sunday 16 January. This was attended by a number of foreign firms and investors, including CEOs of the Samara Group, Mazaya Group (EGI), Jannat and AJ Group, and Almasa Group.
Addressing attendees at this conference, KP finance minister Taimur Saleem Jhagra announced that “International firms have signed 44 memorandums of understanding (MoUs) worth $8 billion during the Expo 2020 Dubai.,” as reported here.
He added: “For the promotion of tourism in Khyber-Pakhtunkhwa, the government is presenting ready projects at the expo for investment.”
“Investment groups that have signed MoUs include Enertech-Kuwait Investment Authority (KIA), Korea Hydro & Nuclear Power (KHNP), Private Office of Sheikh Ahmed Dalmook-Al-Maktoum, Samara Group, VR Group, Sigma Group, Malik Foams, Nobel Future Land and many others,” Khan also said, on Twitter.
“Investments in the development of food processing zones, integrated tourism zones (ITZ), Solarization of Economic Zones, Construction of Transmission Lines across Khyber-Pakhtunkhwa will help in transforming KP by creating economic opportunities and increase in employment.”
According to Jhagra, an Overseas Pakistan Council will be formed to facilitate investors.
Expo 2020 Dubai will run until 31st March. As well as a range of single pavilions to highlight the participating countries, there are also pavilions dedicated to the event’s three subthemes: sustainabilitymobility and opportunity.