Italian firms mulling investment in Pakistan

Oppostion Is Mafia

Minister (2k+ posts)
Italian firms mulling investment in Pakistan

Investment expected to strengthen economic ties between two countries
851055-ItalyPakistan-1426024713.jpg

ISLAMABAD:

Italian companies are keen to pour investment into various sectors of Pakistan and the investment will further strengthen economic ties between the two countries, said Pakistan’s Ambassador to Italy Jauhar Saleem.

Speaking to the media on Friday, he said that at present Italian firms had investment in various sectors including food, steel, leather, textile, tourism, information technology and automobile.

Saleem lauded the role of Italian government, embassy and private sector in providing technical assistance and making technology transfer to Pakistan, particularly in the export-oriented leather and textile sectors.

Previously, investments from Italy were highly concentrated in the hydrocarbon sector, he pointed out.

The Italian embassy is endeavouring to build a more diversified investment portfolio and it has pitched Pakistan’s priority sectors for investment in a bid to grow the bilateral investment portfolio at a sustainable pace, he added.

He highlighted that workers’ remittances from Italy to Pakistan soared 92% in August 2021 compared to the same month of last year, making Italy the largest contributor to the remittances from Europe.

“Keeping in view the growth trend over the past 12 months, Italy is expected to join the billion-dollar club in terms of remittances to Pakistan, which can help bridge the current account gap being faced by Islamabad,” he stated.

“Italy is Pakistan’s eighth largest export market,” he said.

Exports to Italy registered 64% growth on a year-on-year basis in August 2021, mainly led by value-added sectors such as garments, leather products, home textiles and footwear, he noted.

“Pakistan’s share in Basmati rice exports to Italy has surged to 82%, whereas India’s contribution stands at just 12%,” the envoy said.

Citing that exports to Italy from Pakistan reached an all-time high of $786 million in FY21, he foresaw a larger figure this year.

The envoy announced that a delegation of Pakistan consisting of 40 businessmen from the leather sector would visit Italy in the coming week.

“They will meet buyers and investors and visit some state-of-the-art leather manufacturing facilities in Italy,” he said.
https://tribune.com.pk/story/2320710/italian-firms-mulling-investment-in-pakistan
 
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Aslan

Chief Minister (5k+ posts)
Pakistani media has not found the right balance when reporting news.It reports doom and gloom and ignores positive news.Pakistan’s economic situation is not rosy but it is not dire.Pakistan is doing it’s best to overcome difficulties.Other countries are also facing problems.Gas,electricity and food prices are rising in UK too.I know UK is a developed country and can not be compared with Pakistan.However the less off people in UK are also affected.
 

Oppostion Is Mafia

Minister (2k+ posts)
Pakistani media has not found the right balance when reporting news.It reports doom and gloom and ignores positive news.Pakistan’s economic situation is not rosy but it is not dire.Pakistan is doing it’s best to overcome difficulties.Other countries are also facing problems.Gas,electricity and food prices are rising in UK too.I know UK is a developed country and can not be compared with Pakistan.However the less off people in UK are also affected.
Also in Uk Media is Control No fake news or Propganda against Goverment like Pakistan. No Rubbish talk shows from 7pm to 11pm against government. Petrol in Uk is exoensive £136 but no public complain or media propoganda they understand it was covid same with Gas and Electricity gone up 37% but no propaganda and lies like Pakistani media. 😉.
 
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