Peshawar: The Khyber Pakhtunkhwa (KP) government has decided to work on the materialisation of the USD 8 billion worth Memorandum of Understandings (MoUs) signed between the foreign companies and the provincial government during the Dubai Expo 2020, news sources reported on March 6.
The government will take decisive initiatives to boost Foreign Direct Investment (FDI) in the province’s tourism, hotel, and Information Technology (IT) sectors. Reportedly, The decision was made at the 9th Board meeting of the Khyber Pakhtunkhwa Board of Investment and Trade (KPBOIT), which was presided over by KP Chief Minister (CM) Mehmood Khan. According to the meeting’s minutes, the government has attracted over 250 companies and participants from 100 countries to invest in various areas in the province.
Moreover, the KP team hosted eight sectoral conferences with up to 100 international investors in attendance. In addition, Mehmood advised the provincial administration to carry out at least half of the MoU within the present government’s mandate to enhance citizens’ job prospects. During the meeting, it was also decided that the government would organise a roadshow in the middle of the month to promote the province’s investment potential.
Furthermore, the meeting was informed that the government has a dedicated and official business portal, a new website, and an Investment Relations Management System (IRMS) to enhance Ease of Doing Business (EoDB). The platform would make it easier for overseas investors to get investment licenses and NoCs in one location.
Nauman Ahmad is an imaginative Pisces whose love for literature and nature is unparalleled. When he's not reading or hiking, he's sleeping and eating, which gives him plenty of energy for his next adventure.
