Pakistan keen to enhance bilateral cooperation with France, says President

F.P. Report

ISLAMABAD: President Dr Arif Alvi on Monday said Pakistan was keen to enhance its bilateral ties with France and explore new avenues of cooperation in realms of trade and investment for mutual benefit of the two countries.

The President said this while talking to Chairman of Pakistan-France Business Council of MEDEF International and President of Total Global Services, Thierry Pflimlin, who along with his delegation called on him here at the Aiwan-e-Sadr.

He underscored that Pakistan offered various investment opportunities for French investors, especially in the sectors like manufacturing, housing, tourism, communications, and road infrastructure. The French investors might benefit from Pakistan’s liberal investment policies, he added.

Dr Alvi said Pakistan followed a consistent investment policy having several lucrative incentives, including full repatriation of capital, capital gains, high rate of return, dividends, and profits.

Moreover, he said, the foreign companies were allowed to use borrowing facilities, both from local and foreign banks.

Underscoring key benefiting domains of the China Pakistan Economic Corridor (CPEC), the President said with wide portfolio projects, including energy, roads and railway networks, software development and others, CPEC offered invaluable opportunities for the French companies.

He told the delegation that presently seven Special Economic Zones had been established in Pakistanand French companies could establish or relocate their units there. He also invited the French companies for joint ventures (JVs) with local and foreign companies to become part of the global value chain.

He assured that the Government of Pakistan was committed to facilitate private sector in each and every step of their project cycle.

The President said with the established fact of Pakistan’s economic potential, the international community viewed it as a highly attractive investment destination.

Board of Investment (BoI) Chairman Haroon Sharif and French Ambassador to Pakistan March Barety were also present on the occasion.