Sindh: Possible Socio-economic Developments by Virtue of EU Relations
The Sindh government has been promoting incentives for the EU to invest in the province. The region hopes that increased relations with the EU will stimulate economic growth. Memoranda of understanding benefitting both sides have been established, together with a Fast Tracking Working Relationship for their implementation.
Below is an article published by The News:
The Sindh government and Belgium agreed to establish the mechanism of Fast Tracking Working Relationship (FTWR) for early implementation of the features of the signed MoUs, exchange of information about the potential for investment in Sindh, to promote trade and business activities and to further enhance bilateral relations for the socioeconomic development of both sides.
They also agreed for early implementation of the MoU signed by them earlier for development of Sindh information technology sector at the cost of 10 million euros.
The Chief Minister of Sindh, Syed Qaim Ali Shah, invited Belgium and other member countries of the European Union to avail the investment opportunities in Sindh for which not only the situation of law and order has been brought under control but incentives to investors was also being provided by his government.
This was observed during a meeting between the Chief Minister of Sindh, Syed Qaim Ali Shah, and the Ambassador of Belgium to Pakistan, Frederic Verheyden, who called on him at the Chief Minister’s House on Tuesday along with the Belgium Trade Commissioner and the Belgium Trade Mission.
Principal Secretary to Chief Minister Alumuddin Bullo, Secretary of Finance Sohail Rajput and officers from the Board of Investment were also present at the meeting.
Speaking on the occasion, the chief minister said that Sindh is an agro-based province of Pakistan which is rich in mineral resources. He said that Belgium and other countries of the European Union by virtue of their expertise had been playing an important role in development within their countries as well as outside their countries.
“As such we invite you to come forward and avail these opportunities of investment for the benefit of both sides,” he said.
He said that the province had shortage of energy, but at the same time it had huge reserves of coal, a wind corridor and a huge potential for solar energy.
Similarly, “we need expertise in modern methodologies of cultivation, efficient usage and management of irrigation water, and development in the transportation sector,” he said.
He said in the presence of huge investment opportunities, we have established the Board of Investment (BoI) for showcasing the investment opportunities, coordination and exchange of information about investment and to facilitate the investing organizations.
The chief minister said that his government had already signed an MoU with a Belgian firm for development of information technology and offered the visiting delegation establishment of a joint fast tracking mechanism of working relationship to implement the features of the signed MoU at the earliest.
The Ambassador of Belgium to Pakistan, Frederic Verheyden, while endorsing the chief minister’s suggestions, accepted his offer and said that the purpose of his visit along with the Trade Mission was to promote bilateral trade relations for the benefit of both sides. He said they had signed an MoU with the IT department of the government of Sindh and wanted to implement its features at the earliest.
The delegation also took interest in the investment opportunities in irrigation, flood fight, management, information technology and other infrastructure development in different fields in Sindh province.
The delegation also lauded the efforts of the Sindh government for maintaining the law and order situation in the province.
Photo credit World Bank @Flickr