Tuesday, April 16, 2024
HomeBusinessTurkey, Saudis Looking To Invest In Gwadar As Its Become Center For International Investors

Turkey, Saudis Looking To Invest In Gwadar As Its Become Center For International Investors

According to Gwadar Port Authority executives on Friday, businessmen from Saudi Arabia and Turkey are visiting the port city and aim to invest in the Gwadar Free Zone (North) this year.

With the announcement of projects worth billions of rupees for enhancing commercial activities, establishing free zones, renovating infrastructure, and hosting foreign diplomats, Gwadar port has piqued the interest of international investors.

A party from the Turkish multinational firm Nissan was stated to be at Gwadar Port to investigate present trade, prospective future opportunities, and the possibility of constructing a warehouse in the free zone.

The Nissan Group manufactures tyres, lead acid batteries, automobile components, CNC robotic equipment, lubricants, and filters.

Potential investors might take advantage of the numerous opportunities provided by Gwadar Port, which largely serves the shipping sector.

Senior executives from the Pakistan Transport Council, the Lahore Chamber of Commerce, and the Pakistan Saudi Business Chamber are also at Gwadar at the same time.

Their main purpose is to look into the possibility of joint ventures in a number of industries, including petrochemicals.

According to Port Authority officials, Gwadar offers a plethora of economic opportunities to both domestic and foreign firms.

Fishing, the petrochemical industry, tourism, trade logistics, the processing and manufacturing sectors, oil storage, refining, transport equipment, ship breaking, food, and construction materials are just a few of the important industries that are suited for Gwadar.

Furthermore, international investment is welcome in the production, processing, and assembly of electronics, information technology, and home appliances.

Among the foreign officials who recently visited Gwadar were Alfred Granas, the German ambassador to Pakistan, and Dr. Rudiger Lutz, consul general of the German Consulate in Karachi.

Sarah Mooney, Pakistan’s Director of Trade and Deputy High Commissioner of the United Kingdom, also spent two days in Gwadar. He also spoke with entrepreneurs and representatives of the Gwadar Chamber of Commerce and Industry, praising Gwadar’s development agenda.

In September of last year, a group from the Canadian Barrick Gold Corporation, led by Michael Peter Nelson, visited Gwadar and expressed interest in investing in the import and export of different minerals from the port city.

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