Russia’s Expo Bank keen to invest in Pakistan
ISLAMABAD: Igor Vladimirovich Kim, the Chairman of leading Russian investment Expo Bank, expressed keen interest to invest in Pakistan’s financial sector.
Igor Kim expressed his interest during a meeting with Federal Minister for Privatization Muhammad Mian Soomro and Chairman Board of Investment (BoI) Zubair Gilani at BoI Headquarters in Islamabad on Wednesday.
Chairman BoI Zubair Gilani briefed Mr. Kim about the current economic situation of Pakistan and the investment opportunities based on Pakistan’s young population and geography.
He explained the government active efforts in reducing the current account deficit and highlighted the current exchange rate and additional economic opportunities for investment in the country at this stage.
He informed that Pakistan is embarking on the course of boosting its exports by offering special concessions to exporters and efforts are underway to substitute imports.
He highlighted that huge potential is available for investment in; oil & gas pipelines project and transportation, gasification of Thar coal, labor intensive export-led industry, textile, tourism, energy and mining as well as the logistic sector, particularly Pakistan’s Railways.
“Pakistan’s banking sector historically proved profitable and micro-financing sector holds tremendous potential” he added.
Chairman BoI further assured to extend full support to create a conducive environment for investment.
On the occasion Muhammad Mian Soomro briefed the visiting guest about Pakistan’s potentials in different sectors. He said that with the help of new technologies and artificial intelligence, along with investment in skill development, Pakistan could produce low cost products.
“It would support us to maximize our export to new markets of the world,” he said.
He mentioned the public sector entities in Real State, Power, Finance, Manufacturing and Oil and Gas Sectors which are being offered by Pakistan for privatization purposes. Mr. Kim showed huge interest to invest in Pakistan’s financial sector.
He said that his team would analyze opportunities of acquiring public sector entities which are being offered for privatization soon.
While briefing about his organization’s strength, Mr, Kim informed that his fund ExpoCapital has heavily invested in international production of a new generation of energy efficient electro bikes, and his company OCSiAI is an international developer and producer of signal walled carbon nanotubes for global industry.
He further highlighted that his companies, with the help of artificial intelligence (AI), are working in the health sector such as artificial analysis of radiograms, diagnosis of the risk of tumors, use of AI for life extension and the prevention of age -related diseases.
He offered to invest in Pakistan’s manufacturing sector by introducing innovative technologies such AI to help Pakistan in boosting its exports to the global market.