ISLAMABAD  - Samsung C&T General Manager Joonwoo Choi called on Chairman Board of Investment, Mohammad Zubair and Secretary BoI, Imran Afzal Cheema to discuss new investment prospects in Pakistan.
Joonwoo Choi apprised that the company is one of the world’s finest construction and engineering companies and interested to invest in the construction of Kohat Tunnel. Currently it is providing the leading role in the construction of several worlds’ largest building projects such as Malaysia’s Petronas Tower and the Burj Khalifa in the United Arab Emirates. He further said that Samsung C&T Corporation’s Trading & Investment Group also desires to participate in the field of energy and environment that are likely to serve as drivers for future growth of Pakistan. The key areas of interest are wind power, bio-energy and other renewable energy sources.
The Chairman, BoI highlighted the investment incentives to the Korean investors and said that 100pc equity and repatriation of capital, profits, royalty etc allowed to the foreign investors. The Chairman also mentioned about the establishment of SEZs for foreign investors. He said that the SEZs will have basic utilities and infrastructure of international standard, which will lead to reduce the cost of doing business, increase in industrial productions and exports, creation of jobs and enhance the rate of return to the developers and investors of the SEZ.
The Chairman also invited Samsung C&T to open a liaison office in Pakistan for pursuing their future interests in various sector. Samsung C&T has been conducting complex trading and investment operations since its nomination as the first ever General Trading Company in Korea. With the merger of Samsung E&C in December in 1995, Samsung C&T has now also balanced the two branches of Engineering & Construction Group and Trading &Investment. Samsung C&T has more than 9,000 employees in 114 overseas offices in 48 countries and recorded 13,441 billion won (KRW). (Approximately $14 billion).