ISLAMABAD, Aug 15: The investment policy of Pakistan is business-friendly and in many cases, no permission is required to set up industries in the country.

This was stated by the Board of Investment (BoI) chairman, Wasim Haqqie, while talking to a delegation of a Chinese telecommunication company.

The five-member delegation, led by the vice-president of M/s China Putian, Jiang Hanbin, is currently on a visit to Pakistan to explore investment opportunities in telecommunication and energy sectors. The delegation will also hold meetings with Wapda and KESC officials, and offer company’s technology and products at competitive rates.

The vice-president of the Chinese telecommunication company discussed with the BoI chairman the opportunities to launch joint venture with the Pakistan Telecommunication Company (PTCL).

During the meeting, the BoI chairman said the information technology and telecommunication sectors were growing at a rapid pace. During the last three years, the number of cellular phone users has increased to about two million and the figure is expected to reach the five million mark next year, he added.

Highlighting the salient features of the investment policy, he said 100 per cent foreign investment was allowed and remittance of capital and profit was also permissible.

Pakistan offers a large number of opportunities to the investors in various sectors like information technology, telecom, agriculture, energy and textile.

Mr Haqqie assured the delegation that the BoI would provide all possible help and assistance to the Chinese company.

On the occasion, the leader of the Chinese delegation briefly presented the profile of the company. He said the company, established in 1980, was one of the largest companies in China.

The company manufactures telecom equipment, IT products, optic fibre cable etc., and it has vast business experience.