$ 1.5 billion Joint Venture signing ceremony held at Punjab Board of Investment and Trade (PIBT) office. This is one of the biggest foreign direct investment into Pakistan.
The Joint Venture Agreement has been signed between Providential Group and multinational groups from Europe and USA.
Honourable Minister for Investment, Industry, Commerce, and Trade Mr Shafay Hussain chaired this Joint Venture signing ceremony. Mr Muhammad Nadeem, Ms Asima Tariq, Directors from Punjab Board of Investment and Trade (PBIT), and other government officials were also present at the ceremony.
The European and American conglomerates are bringing in massive Foreign Investment together with vast experience in Real Estate Development, Mining, Oil & Gas, Large Scale Infrastructure development, New Technologies, Banking and Private Equity Funds. They are owners of more than 2 dozen companies and financial funds globally.
Mr Tariq Saadat (Chairman) and Mr Khurram Akbar (Chairman) from Providential Group signed an exclusive Agreement with European group represented by Mr Adriano and USA group represented by Mr Michael.
The $1.5 Billion foreign investment is for the Real Estate Development, Industry, and Mining sectors into Pakistan. Pakistan has vast mineral reserves and is expected to be the next global frontier in Mining. Pakistan Real Estate Sector is also expected to grow exponentially over the next few years due to a huge housing deficit. This Joint Venture and foreign investment is a big achievement for Pakistan at a time when there is great economic uncertainty. It is envisaged that this will bring great prosperity and employment opportunities within the country.
