PESHAWAR, Feb 15: Czech Ambassador Alexander Langer on Thursday described security as the major cause which had restricted foreign investors from investing in the NWFP and its adjoining tribal belt.
The ambassador made these remarks while speaking at a meeting of the local business community at the Sarhad Chamber of Commerce and Industry (SCCI) here.
He conceded that the Frontier province had a lot of potentials for foreign investment, particularly in the tourism sector. He, however, said that the investment needed peaceful environment, whereas the foreign investors had some concerns about the law and order situation in area and it must be addressed to bring foreign investment.
The Czech envoy said that relations between the two countries had witnessed a remarkable improvement during the last three years, adding that bilateral trade between the two countries had tripled and Islamabad had finally decided to open its embassy in Prague.
He expressed the hope that the establishment of a Pakistani embassy in the Czech capital would further improve communication links between the two countries and enable the two sides to enhance economic cooperation.
Mr Langer said that Czech companies were already engaged in various projects in Pakistan, especially in hydroelectric power generation, while some others had shown their willingness to invest in energy, mines, minerals, oil and gas, textile and marble sectors.
The ambassador was of the view that Pakistan currently needed import of heavy machinery for the expansion of its industrial base and for this purpose the Czech Republic was one of the good choices available to Pakistan.
In reply to a point raised about easing the visa restrictions for Pakistanis, the ambassador explained that being a member of the European Union his country had to follow its rules and regulations in this regard.
He conceded that visa rules to European countries were very strict. He, however, held out an assurance that the number of visas to Pakistanis for the Czech Republic would be increased by 15 times.
To a question, the ambassador said that he would try his best to encourage exchange of trade delegations between Pakistan and his country, adding that the businessmen from the two countries could extend cooperation in a number of sectors ranging from automobile, cement, shoe manufacturing to human resource development and education.
Earlier, Liaqat Ahmad Khan, President of the SCCI, said that the NWFP had natural resources in abundance that could be utilized for greater economic benefits of the two countries. He said that huge mineral deposit, marbles, granite, medicinal herbs, fruits and vegetables were the areas where the foreign investment could take place.
