Russian ExpoBank Shows Keen Interest To Invest In Pakistan's Financial Sector
Muhammad Irfan 10 days ago Wed 11th September 2019 | 10:37 PM
Chairman Russian ExpoBank, a leading investment bank of the country, Igor Vladimirovich Kim, Wednesday expressed keen interest to invest in Pakistan's financial sector
He expressed the interest of investing in financial sector of the country during his meeting with Federal Minister for Privatization Muhammad Mian Soomro and Chairman Board of Investment (BoI) Zubair Gilani at BoI Headquarters here.
Kim said that his team would analyze opportunities of acquiring public sector entities which were being offered for privatization soon.
While briefing about his organization's strength, he said that his fund ExpoCapital had heavily invested in international production of a new generation of energy efficient electro bikes, and his company OCSiAI was 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), were 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.
Meanwhile, 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 and mentioned the public sector entities in Real State, Power, Finance, Manufacturing and Oil and Gas Sectors which were being offered by Pakistan for privatization purposes.
On the occasion, Chairman BoI, Zubair Gilani briefed the Chairman Russian ExpoBank about the current economic situation of Pakistan and investment opportunities, based on Pakistan's young population and geography.
He explained that the government's 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 was embarking on the course of boosting its exports by offering special concessions to exporters and efforts were underway to substitute imports.
He highlighted that huge potential was available for investment in oil & gas pipelines project and transportation, gasification of Thar coal, labour intensive export-led industry, textile, tourism, energy and mining as well as the logistic sector, particularly Pakistan's Railways.
"Pakistan's banking sector proved historically to be 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.