Italy to Establish 3 Excellence Centres in Pakistan for Denim-Leather-Mining Industry


Islamabad: Feb 27, 2019-Pakistan provides limitless opportunities for prospective investors from around the world and that the current government is leaving no stone unturned in ensuring that Pakistan becomes an attractive heaven for foreign investors. This was said by Federal Minister for Aviation and Privatization Muhammad Mian Soomro when the Italian Ambassador to Pakistan Stefano Pontecarvo called on him here in Islamabad.

The two discussed a wide range of issues concerning the friendly relations between the two countries. The Federal Minister highlighted the many steps that the current government is taking to facilitate investors from around the world. This includes streamlining the process that investors go through to invest in Pakistan. Part of that plan includes formulating a one window operation so that all necessary documentation and requirements to be fulfilled by investors could be dealt with swiftly. The Minister also stated that the government is committed to charting a course forward that will increase the ease of doing business in Pakistan.

The Minister also highlighted the many opportunities that Pakistan has to offer in terms of investment for Italian investors. Pakistan’s cheap labour force and ideal location is worth exploiting by investors, added the Minister. These include the marble and stone sector, textiles and the car making industry. The Minister also stated that there was immense potential in the marble industry in the Thar region where exceptionally unique coloured marbles could be mined. It would be more beneficial for all parties involved if polishing plants were established in the region so that costs could be cut, added the Minister.

The Minister further stated that there was plenty of investment opportunities for investors in the Onyx industry in Balouchistan. He also appreciated the fact that Italy has a long history of innovation in technology and that this sharing of technology with Pakistan would be beneficial for the economy of the country. The Minister also appreciated the contribution of Italy in the design of the Tarbela Dam when it was build. He was of the opinion that with the growing economy of Pakistan, there are multiple avenues for investment in infrastructure development, avenues which he believed Italy could explore.

The Minister was especially keen on Italy’s assistance in helping develop the rail network in Pakistan which the Minister added had immense potential. The Minister also reiterated that the current government has a road map for privatisation and is committed to ensuring that the privatisation process is fair.

The Ambassador shared the fact that Italian investors are interested in investing in Pakistan and acknowledged the steps taken by the current government in improving the investment environment in the country. The Ambassador also shared plans for establishing three centres of excellence here in Pakistan which will deal with the denim, leather and the mining industry. He hoped that this would certainly bring about improvements in the respective industries in Pakistan and help to add value edition to the products from these industries. The Ambassador also spoke fondly of the culture and food of Pakistan and appreciated the delights that Pakistan has to offer


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