LAHORE: Potential of investment in Punjab is huge while international investors are also keen to invest in Pakistan. These views were expressed by Punjab Board of Investment and Trade (PBIT) Chief Executive Officer Jahanzaib Burana in an interactive session with Lahore Economic Journalists Association (LEJA) on Monday.
“Before inviting local and foreign investors in the province, there is a need to restructure marketing department of the PBIT, besides establishing new divisions like transactions division,” Burana said.
He further said that at the global level there is tough competition and different emerging as well as developed economies have investment promotion agencies, which are running advertisements for their respective countries. “We also need to highlight the investment opportunities in the province, and only a competent marketing team can do this,” he added.
Burana believed that for long term development and growth, strategic initiatives are crucial for the province. These initiatives should be taken without any further delays, he observed. He said that conceptualization of any project is key to success for the private sector investment and development.
Once a strong conceptualized project is marketed in the international market for joint venture, public private partnership, or any other form of investment, it attracts more investors than any half prepared projects, he said.
“Pakistan has converted into an emerging market from developing country on the world map. According to a report Pakistan needs $165 billion investment in infrastructure development by 2020,” he said.
Some of this infrastructure investment has already observed under China Pakistan Economic Corridor (CPEC) projects while more investment is required to maintain the pace”, he added.
The CEO PBIT said that match making is crucial and vital for Business to Business (B2B) deals for private sector investments and joint venture in any country. For this role of investment promotion agency of that country is also vital. So the deals division of the PBIT will focus towards this direction.
“The deals division of the PBIT should be strong and competent enough that it will be able to successfully manage the match making of local and foreign investors for a successful joint venture.
Besides, the PBIT deals division will also work to develop direct liaison among the associations, chamber of commerce and private business houses of Punjab with other parts of the world”, he added.
Burana who joined PBIT almost a week ago said that the potential of investment in Punjab is huge while international investors are also keen to invest in Pakistan. However, province also lacks behind in reliable data base which can identify and market the potential properly. The PBIT will also work to create reliable authentic data base of investment potential in the province as well.