ISLAMABAD: Federal Minister for Investment Senator Waqar Ahmed Khan Wednesday said that government was fully committed to provide an optimum business climate to the investors.

“The government is in the process of implementing measures to ensure the protection of investments and the investors in the country,” the minister told a Korean delegation led by Soo Young Huh, President and CEO of KB Chemical Corporation who called on the Minister at his office here. Federal Secretary for investment Tariq Iqbal Puri was also present at the occasion.

The Minister offered the Korean delegation to build Korean Economic Zone in Pakistan and government was ready to provide land for this purpose, as the government provided land to Chinese economic zone in Lahore and Kalashah Kaku.

Senator Waqar said that many Korean companies were taking advantage of attractive investment polities and commercial opportunities and have undertaken business activities including infrastructure development in Pakistan. The current level of economic collaboration is not Commensurate with the Korean private sector potential or the immense opportunity available in Pakistan, he added.

The Minister invited Korean entrepreneurs to establish food and dairy processing plants in Pakistan. He also offered them to invest in power sector. Waqar Khan said our country was blessed with the largest coal reservoir in Thar which could be gasified to produce LNG on large scale.

“The Investment of $ 3-4 billion may deliver upto 40 billion dollars per annum, if this, gases exported after catering indigenous needs,” he added.

Soo Young Huh, President KP Chemicals Corporation and Kag-Gyu Hwang Executive Vice President LOTTO Corporation lauded the efforts of the Pakistan government for providing conducive business atmosphere to the foreign investors.

The Minister for Investment said that Pakistan has incredible opportunities for investment. The Korean capital and technology combined with Pakistan’s manpower in diverse sectors such as textiles, leather, construction, telecommunication, pharmaceutical and Information Technology (IT) could create synergy which would be mutually beneficial for Korea and Pakistan, he added.

The bilateral trade reveals that both Pakistan and Korea have to raise their level of economic cooperation, the Minister added.