BOI Secretary, German diplomat discuss cyber security tech investment opportunities in Pakistan

ISLAMABAD: Mr Christian Boettcher, First Secretary, Embassy of Germany in Pakistan and Muhammad Usman, Pakistan Representative at German Emirati Joint Council for Industry and Commerce (AHK) called on Secretary Board of Investment (BOI) Ms Fareena Mazhar here in her office on Tuesday to discuss cyber security technology investment opportunities in Pakistan.

During the meeting, the outcomes of recent German delegation that visited Pakistan were discussed. The First Secretary informed that three German companies have decided to invest in Pakistan and have already registered themselves.

AHK expressed interest for investment in Cyber Security Technology by their companies in Pakistan. Elaborating on the opportunities available in cyber security, Secretary BOI shared that Pakistan’s I.T industry is among the top 5 net exporters of the country.

She said there is zero Income Tax on IT exports till June 2025 with 100% Equity allowed for foreign investors. Mr Boettcher and 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 said 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 Mr Paul Obers, CEO HATO, Netherlands which was also attended by Mr 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 and 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.