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Malaysia's Edotco Group plans to invest $250m in Pakistan

ISLAMABAD: The Edotco Group of Malaysia, with an investment of $100 million in Pakistan, has shared plans to raise its investment in cellphone tower infrastructure by $250 million in the next five years.
The announcement was made by edotco Group Chairman Azzat Kamaluddin, who called on Prime Minister Imran Khan on Friday.
Praising the vision of PM Khan and the policies pursued by the government, the edotco chairman revealed that the company desired to enter into partnership in the Digital Pakistan programme.
The prime minister highlighted the measures undertaken to enhance the ease of doing business and assured investors of complete facilitation.
Separately, Finance Minister Asad Umar received an edotco delegation where Kamaluddin reaffirmed that the group shared the present government’s vision of Digital Pakistan and expressed willingness to contribute in that regard.
“Our company currently has a $150 million portfolio in Pakistan in telecom. Edotco plans to enhance it to over $200 million keeping in view the potential of this sector and the liberal investment regime and incentives offered by the government.”
It was recalled that following recent visit of PM Khan to Malaysia, a number of Malaysian business delegations visited Pakistan to explore investment avenues.
The Malaysian high commissioner, who accompanied the edotco delegation, hinted at the intention of other Malaysian companies to establish their presence in Pakistan.
The delegation also talked about its interaction with the Pakistan Telecommunication Authority (PTA) for cooperation.
The finance minister emphasised that economic cooperation among Muslim countries would take them towards prosperity.