PESHAWAR - The Khyber Pakhtunkhwa government has signed 44 memorandum of understanding (MoUs) worth $8 billion with various foreign investment companies during its participation in the Dubai Expo 2020 in January this year. The MoUs were signed in various sectors including energy, agriculture, industry, tourism, minerals and information technology.

During Dubai Expo, the team of the provincial government held a successful investment road show which was attended by representatives of over 250 foreign companies. Similarly, the Khyber Pakhtunkhwa team also organised eight sectoral conferences in which up to 100 foreign investors participated. Moreover, the provincial government has also prepared an action plan to implement the MoUs signed with foreign companies at the Dubai Expo. This was told in the 9th Board meeting of Khyber Pakhtunkhwa Board of Investment and Trade ( KPBOIT) held here the other day with Chief Minister (CM) Khyber Pakhtunkhwa Mahmood Khan in the chair, said an official handout issued here on Sunday.

The meeting was informed that as per special instructions of the chief minister, a team of the provincial government led by Khyber Pakhtunkhwa Board of Investment and Trade (KPBoIT) participated in the Dubai Expo with full preparations and homework, and the outcome of provincial government’s participation was beyond expectations.

It was further informed that strictly adhering to the austerity policy of the government, the team of Khyber Pakhtunkhwa government had saved huge amount for the provincial exchequer by spending only 34.27 percent of the funds allocated for Dubai Expo. Talking on this occasion, the CM termed the participation of the provincial government in the Dubai Expo as very successful and fruitful and appreciated the performance of the entire team including the officials of the Board of Investment and Trade in this regard and directed the concerned quarters to take necessary steps to execute at least 50 percent of the MoUs signed at the Dubai Expo in the tenure of incumbent government so that maximum employment opportunities could be created to the people of the province by attracting more and more foreign investment.

He also directed the concerned authorities to ensure that all the facilities and services required under the Ease of Doing Business policy of the provincial government be provided under one roof to the foreign companies desiring to invest in the province. The meeting was also told that the provincial government is going to hold an investment road show in Peshawar by the mid of this month as follow up of the MoUs at Dubai Expo in which full participation of foreign investment companies is expected. The meeting was attended by Provincial Minister for Finance Taimur Saleem Jhagra, Additional Chief Secretary Shahab Ali Shah, Principal Secretary to Chief Minister Amjad Ali Khan and Secretary Industry Zulfiqar Ali Shah besides other members of the Board and concerned officials.

The forum was apprised of the progress made on the implementation of the decisions taken in the last meeting of the Board. The meeting was informed about the measures taken under the Ease of Doing Business (EoDB) policy to provide maximum facilities to the foreign investors and told that an official business portal, a new website and an Investment Relations Management System have been launched by KPBoIT to provide the required services to investors online.