Danish investors and enterprises are expected to bring investment and joint ventures to Pakistan for increasing economic and trade relations between both countries.
According to a press release issued by the Board of Investment (BOI) on Thursday, the Ambassador of Denmark, Ms. Lis Rosenholm called on the Minister of State and Chairman of Board of Investment, Atif R. Bokhari and Federal Secretary for BOI, Ms. Fareena Mazhar at BOI Islamabad and exchanged views on areas of mutual interest.
The Ambassador of Denmark showed keen interest in the area of renewable energy. She expressed that Danish companies are interested to explore investment opportunities in this sector upon finalization of AEDB’s competitive bidding guidelines in Renewable Energy Policy. The Chairman welcomed the Danish investors and assured them of the Board of Investment’s cooperation and support.
In the meeting, a discussion of joint ventures and equity investment to expand the two countries economic partnership also took place. The Chairman of the BOI appreciated the efforts of the Danish Ambassador, Ms. Lis Rosenholm regarding investment opportunities in different sectors in Pakistan. He apprised the concessions, offered to invest in Special Economic Zones.
The Chairman of the Board of Investment reaffirmed BOI’s cooperation and help to ensure the success of mutual goals of diversifying the bilateral investment portfolio of both sides.
The Danish Ambassador admired the efforts of the government of Pakistan regarding the expanding investment opportunities in Pakistan and expressed satisfaction and hoped that the Danish investors would avail the opportunities and take benefit of the situation.
Not only Danish companies, but the investors of some other countries including China have also shown keen interest in the investment in the area of renewable energy.
Pakistan aims at achieving 5-6% of its total on-grid electricity supply from renewable (excluding large hydropower) by 2030. The country has the potential for renewable energy resources but unfortunately, only large hydroelectric projects and few wind and solar projects have harnessed this potential. Great possibilities exist in promoting the use of wind, solar and biomass projects.
To avoid a worse situation in the years ahead, the country will have to exploit its natural renewable resources. The present government is taking the right steps in encouraging international investors to invest in this sector.