LAHORE: Punjab is expecting a major breakthrough through agreements and investment in 59 projects of its 18 departments during the two-day International Seminar on Business Opportunities in Punjab (ISBOP) commencing today (Monday).

At least 423 foreign delegates, an overwhelming majority of them from China, will be attending the second such moot. The first such seminar was held in November 2015.

The representatives of foreign companies, including 328 from China, 74 from Turkey, 10 from the UK and nine from Germany, confirmed their participation in the seminar, Punjab Board of Investment & Trade Chief Executive Officer Haroon Shaukat told the media here on Sunday.

The PBIT in collaboration with the Lahore Chambers of Industry & Trade is hosting the event.

Mr Shaukat said government-to-business, business-to-business as well as 14 “break out” sessions are a part of the moot which would be followed by an exhibition.

He said a substantial foreign investment was anticipated as the MoUs would cover at least 59 projects of 18 departments, including energy, industry, agriculture and livestock. He rejected reservations of the local investors that any discriminatory treatment would be given to the foreign businesses in CPEC or other projects.

“Nothing is going to be done against the national interest or that may hurt the local private sector.”

Commercial counselor at foreign mission in Beijing Dr Arfa Iqbal argued that the local industry would rather benefit from the Chinese investment through capacity building and higher technology transfer besides “internationalising” it.

Published in Dawn, May 22nd, 2017