Ahmed Khan Malik

The Sindh government has prioritized various sectors to attract investment for economic uplift and job creation for a growing population, reports WealthPK.

Under the policy of the new government after the election early this year, efforts have been made to create an investment-friendly environment to woo investors. “Special investment plans are being designed for attracting investment,” Javed Solangi, Additional Director Investment Cell, told WealthPK. The areas have been identified and prioritized for investment. Under the plan, priority would be given to investment in agriculture, automobile, education, economic zones, information technology, leather, mines and minerals, pharmaceutical, textile, tourism and urban development.

He said the provincial government’s relevant departments will assist companies and investors in the implementation and operation of their projects and provide a wide range of services including providing information on opportunities for investment and facilitating the companies looking for joint venture partners. “We will also play the role of a bridge for prospective investors, both domestic and foreign, for necessary information and assistance in coordinating with other government departments/agencies,” Solangi said.

He said plans are underway to develop and create an investment-friendly environment to boost economic activity and add value to all sectors of the economy while encouraging public-private partnership for the development of Sindh. Fayyaz Murtaza, Director of the Investment Initiatives, said Sindh is blessed with ample business and investment opportunities. The province has a competitive advantage in the form of major seaports, extensive industrial infrastructure, a 350km coastline, and prospects to generate renewable energy. These are just a few of the characteristics that make the province an ideal place for investment.

In addition, the province is home to abundant fertile land, plenty of agricultural, natural and mineral resources, an improving educational system, a young and burgeoning workforce, and a politically strong and stable government, he said, adding that all these elements have given the impetus and incentives for major companies to set up a base in Sindh. He said Sindh is on the path to becoming a major energy contributor for the country, as it is endowed with the potential to generate a healthy mix of energy sources. Sindh's wind corridor has an exploitable potential to generate 50,000MW of electricity.

Thar Coal, one of the world's largest coal reserves with a total of 185 billion tons, has the potential to produce 200,000 MW of electricity for 300 years, enough to power the entire country. Additionally, the province's high solar radiation offers significant potential for solar energy generation.  The province produces 56 percent of the country’s oil and 71 percent of its gas. “All these factors give the province a competitive edge over the other regions for investment,” he added.

Credit: INP-WealthPk