World Trade

At Expo Dubai, Khyber-Pakhtunkhwa made deals totaling $8 billion.

KARACHI: The Khyber-Pakhtunkhwa (KP) province signed over 40 memorandums of understanding (MoUs) at Expo 2020 Dubai, totaling $8 billion in international investment, according to Arab News, citing the KP investment board and officials.

The exhibition, dubbed “the event of the century,” began in October, bringing together delegates from more than 190 nations. The exhibition, which will run through April 2022, is the greatest worldwide gathering since the outbreak of the coronavirus epidemic.

Pakistan’s pavilion at the expo has been emphasising the country’s investment options, tourist potential, and cultural grandeur. In January, the Khyber-Pakhtunkhwa province is the focus.

At an investment conference held on Sunday at Expo Dubai, foreign corporations and investors indicated significant interest in a variety of projects in the tourist, industrial, infrastructure, food processing, livestock, energy and power sectors, and a water sports theme park in KP’s Swabi region.

During Expo 2020 Dubai, international businesses signed 44 memorandums of understanding (MoUs) totaling $8 billion, KP finance minister Taimur Saleem Jhagra told conference attendees.

According to Jhagra, the KP administration marketed these initiatives more effectively. “The government is exhibiting ready projects for investment at the exhibition to promote tourism in Khyber-Pakhtunkhwa,” he added.

Investment groups that have signed MoUs include Enertech-Kuwait Investment Authority (KIA), Korea Hydro & Nuclear Power (KHNP), Sheikh Ahmed Dalmook-Al-Private Maktoum’s Office, Samara Group, VR Group, Sigma Group, Malik Foams, Nobel Future Land, and many others,” KP chief minister Mahmood Khan said on Twitter.

“Investments in the development of food processing zones, integrated tourist zones (ITZ), solarisation of economic zones, and the construction of transmission lines across Khyber-Pakhtunkhwa would contribute to the transformation of KP by generating economic possibilities and increasing employment.”

Jhagra stated that his administration intended to form an Overseas Pakistan Council to assist investors, adding that the process was now in the legislative stage. The KP government had established a special economic zone (SEZ) in Rashakai, and people were now flocking to the province to invest, he said.

According to KP cultural minister Shaukat Yousafzai, the province has significant economic potential, and these agreements would assist in improving the flow of foreign investment into the province.

According to KP additional chief secretary Shahab Ali Shah, only projects with completed feasibility reports were presented at the exhibition, and only investors were required.

He continued, “The government is prepared to give investors a one-window facility,“33

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