Gilgit Baltistan seeks investment in tourism, energy and agriculture

Gilgit Baltistan (GB) has invited overseas Pakistanis and Gulf investors to explore investment opportunities in its key untapped sectors offering better profitability, its top official says.

Khalid Khursheed, chief minister, Gilgit Baltistan, said his government is keen to facilitate Pakistani and international investors if they want to avail investment and business opportunities in one of the most beautiful parts of the world.

“We are showcasing our potential in tourism, agriculture, mining, hospitality, energy, and food processing at Expo 2020 Dubai and are very positive about the response from the business community and investors,” Khursheed said at an event hosted by Pakistan Business Council Dubai on Monday.

He said February is a designated month for Gilgit Baltistan to showcase its economic and tourism potentials at Pakistan Pavilion through seminars, briefings and panel discussions to attract investment in the key sectors of GB.

“We have been presenting untapped sectors in Gilgit Baltistan and playing sector-specific documentaries and videos at Pakistan Pavilion for information and promotion of GB amongst visitors,” Khursheed said.

He said different cultural events are also part of the GB govt activities at Expo 2020.

“On the sidelines of the mega event, panel and group discussions have also been arranged prior to an investment conference, which is scheduled on Feb 24. The US and European investors will be attending the conference,” he said.

GB Visions

The chief minister said GB government has evolved a Vision 2040 and Vision 2050 to put the most beautiful part of the world at par with other international competitive tourism destinations.

“GB has a potential to generate up to 40,000 megawatts hydel power, virgin agricultural land for fruits plantation, ideal locations on river bank for building hotels and resorts as well as tourists hotspots,” Khursheed said.

He said GB has a potential to attract investment in infrastructure development and key sectors.

“We have finalised a plan to develop two new cities — one at Sakardu and second in Gilgit, and formal announcement is expected in March,” he said.

Untapped market

Earlier, Imran Saeed Chaudhary, a prominent businessman and chairman of Cinergie Group, delivered keynote address and said Gilgit Baltistan offers good investment and business opportunities in infrastructure, hydropower and tourism sector.

“It is an untapped market and we need to explore the opportunities to develop the area and promote as a tourist destination,” he said.

PBC delegation to visit GB

Iqbal Dawood, director and officiating president of the Pakistan Business Council (PBC) Dubai, said the business council will lead a delegation to GB to get the first-hand information and discuss various investment options with the government.

“We have very limited information about GB and its potential for investment, but now PBC is keen to explore this untapped market,” Dawood said.

Shabbir Merchant, chairman of Champion Group, echoed the similar views and said GB has potential to attract investment from the Pakistani community.

“A PBC Dubai delegation will soon visit GB and finalise a plan to invest in key sectors,” Merchant said.

Investment conference

Afzaal Mahmood, Pakistani Ambassador to the UAE, delivered the concluding marks and said Gilgit Baltistan effectively highlighted its key economic sectors at Expo 2020 Dubai.

“GB is a land of opportunities and it is expected to attract potential investors in tourism, infrastructure and hospitality. We are very positive about the investment conference on February 24,” Mahmood said.

— muzaffarrizvi@khaleejtimes.com