Malaysia awarded for highest investment
Malaysia has the highest investment in Pakistan. This was duly recognized by awarding Malaysia the Diamond Trade and Investment Award for being among the top five investors in Pakistan, with total investments of $855.7 million from July 2006 to October 2010.
Malaysian Consul General, Mohammad Khalid received the award at an event organized by the Diplomatic Call International Magazine. It was held to recognize and acknowledge the role of foreign investors and diplomats in the economic development of Pakistan. On the occasion, the Consul General highlighted the fact that Malaysia’s investment in Pakistan would soon reach $2 billion. Malaysia is also planning to invest in the revival of the IT tower project in Karachi and provide assistance to Pakistan in tapping the high potential Halal sector.
Earlier this year, Saleem H. Mandiwalla, Chairman, Board of Investment (BoI) met four Malaysian ministers to promote bilateral trade relations between the two countries. The delegation stressed that Pakistan has one of the most liberal investment regimes and welcomed Malaysian companies to build bridges, roads, highways and train tracks under public-private partnership or on build, operate and own (BOO) basis.
The meeting also discussed the prospects of developing downstream palm oil industries in Pakistan through Malaysia’s cooperation. An important suggestion came from the Malaysian Federal Territories Minister, of transforming squatter areas of Pakistan into decent urban residential areas. Malaysia has shown great interest in investing in the low-cost housing sector of Pakistan