ISLAMABAD   -  Elsewedy Electric Pakistan Managing Director Sherif Abo Elhassan, a leading Egyptian electric company, called on MOS/Chairman Board of Investment Atif Bokhari and Secretary BOI  Fareena Mazhar to discuss sector based investment opportunities in Pakistan. 

Elsewedy Electric recently acquired 100 per cent equity stake in Validus Engineering Pakistan, previously owned by Siemens. The takeover will bolster company growth via introduction of power transformer technology that enhances the production capacity to support regional export. Additionally, Elsewedy is also a potential bidder for acquisition of Heavy Electric Complex (HEC). 

Welcoming Sherif Abo Elhassan, Secretary BOI Fareena Mazhar elaborated on the investment opportunities & facilitation being provided by the Board of Investment to investors. 

The economic policies of government of Pakistan have established Pakistan as an emerging market that has generated investor interest from around the globe.

She also apprised about Pakistan’s consistent improvement in World Bank’s Ease of Doing Index wherein the country advanced 28 positions in DB Report 2020. 

Sherif Abo Elhassan appreciated Pakistan’s incentive regime & improvement in business climate. Referencing his company’s acquisition of transformer manufacturing facility, he briefed that production will not just cater to domestic demand but will also be exported to other countries in the region thus promoting export driven industrialisation in the country. He further shared that the company plans to increase its foot print in the country and has identified potential projects in infrastructure and construction sector that are available on BOI’s projects portal. 

BOI Chairman Atif Bokhari said that BOI is ensuring investor facilitation through online availability of investment related information & it is heartening to see its culmination into potential leads. He added that BOI will assist with briefing & connecting them with relevant stakeholders for projects the company wishes to pursue along with any support required for additional acquisitions.  Bokhari assured of BOI’s handholding to facilitate Egyptian investment in Pakistan. 

Source: The Nation