ISLAMABAD:The German Emirati Joint Council for Industry and Commerce (AHK) on Tuesday expressed interest for investment in Cyber Security Technology in Pakistan.
Elaborating the opportunities available in cyber security, Secretary Board of Investment (BOI) Fareena Mazhar shared that Pakistan’s Information Technology (IT) industry is among the top 5 net exporters of the country, said a press release issued here.
She said that there is zero Income Tax on IT exports till June 2025 with 100% equity allowed for foreign investors.
First Secretary, Embassy of Germany in Pakistan Christian Boettcher and Pakistan Representative at German Emirati Joint Council for Industry and Commerce (AHK) Muhammad Usman called on Secretary BOI Fareena Mazhar in her office today to discuss cyber security technology investment opportunities in Pakistan.
During the meeting, the outcomes of recent German delegation’s visit to Pakistan were also discussed. The First Secretary informed that three German companies have decided to invest in Pakistan and have already registered themselves. Mr. Boettcher and Mr. Usman were appreciative of the potential of Pakistan’s IT sector and said that they will soon be sharing their business proposals with BOI.
They further added that they intend to organize a business event of German companies in Pakistan by the end of June (subject to Covid-19 situation) and shared that the purpose of the event will be match-making with Pakistani SMEs.
Another meeting was held between Secretary BOI and Paul Obers, CEO HATO, Netherlands which was also attended by Rizwan Majeed Khan, CEO, HATO Pakistan, Ms. Lianne Houben, Deputy Head of Mission, Embassy of Netherlands in Pakistan and senior officers of BOI.
During the meeting, Deputy Head of Mission highlighted that there are abundant opportunities for investment in agriculture sector of Pakistan.
Mr. Obers informed that HATO wants to setup its second plant in Pakistan for novel animal feed production. He added that the company will initially establish R&D center in Pakistan and requested for BOI’s support with regards to land acquisition.
Secretary BOI was appreciative of AHK and HATO’s interest in the Pakistani market and assured both parties of maximum support and facilitation from the Board of Investment.