KP organises first investment road-show: foreign firms may invest $1.2 billion in different sectors (Business Recorder (Pakistan))

Foreign firms have been offered to invest $1.2billion in different sectors, including setting up of an oil refinery, in Khyber Pakhtunkhwa. “KP government has, so far, received letter of intents (LoIs) worth $1.2billion from foreign investors through a firstever investment roadshow of Khyber Pakhtunkhwa Board of Investment and Trade (KPBoIT) in Dubai which was sponsored by World Bank under multidonor trust fund (MDTF),” this was stated by the board’s vice chairman Mohsin Aziz while briefing media persons about the success of the roadshow in UAE.
KP Chief Minister Pervez Khattak, provincial ministers Ziaullah Afridi and Atif Khan and senior officials were also present on the occasion. Giving details of the letters of intents received from foreign firms during the road show, Aziz said that the board received 12 letters of intents for tourism sector, whereas one LoI was offered by a foreign firm for making investment in the hydel and solar energy projects.
He further said a foreign firm has shown keen interest in investing $200m for setting up an oil refinery in the KP. Elaborating, he said that four letters of intents (LoIs), amounting to $800million, have been received for housing schemes. He said six firms are also ready to make investment in other potential sectors in the province.
Khattak, who is also chairman of KPBoIT, told newsmen on this occasion that foreign firms are keen to make investment in KP. “We want to bring investment and revive terrorismaffected industries in the province, the chief minister said and added: “We offer incentives and facilities to foreign investors to make investment in tourism, energy, agriculture, oil and gas, housing and other potential sectors in KP.”
“There are many avenues of investment in KP, the chief minister said, adding that the government would fully facilitate and provide protection to the investors. He said that need of the hour is to invest and revive industries to cope with unemployment issue in the province.