ISLAMABAD - Private sector led Gilgit Baltistan Invest Initiative has been formally launched here which aims at supporting equitable and sustainable development in the area with the expected investment of $ 100 million from 2022 to 2023.
Pakistan Institute of Economic Development (PIDE) and Karakorum International University (KIU) in partnership with Rupani Foundation in partnership with Reenergia, formally inaugurated the GB Invest Initiative on the 29th of November, 2021 in Islamabad and Gilgit simultaneously.
It was said that this private sector-led GB Invest Initiative aims to mobilize private sector impact investments in Gilgit- Baltistan, supporting equitable and sustainable development for the region’s people and the local economy while preserving the unique ecosystem. Around $100 million will be channeled from 2022 to 2023 by connecting GB’s private sector with investors from resident and overseas Pakistani communities, as well as with stakeholders from global corporate, financial, development, and public sector organizations.
The GB Invest Initiative will also attract and facilitate investments to channel socially inclusive, environmentally responsible, and economically viable growth across the following key sectors of investment, e.g. tourism, renewable energy, minerals and mining, trade and commerce, agribusiness, and technology.
A huge number of representatives of print and electronic media were present at the occasion. Addressing the media, representatives of the four partnering/collaborating organizations mentioned that the GB Invest Initiative will globally invite all stakeholders from public and private sectors, and Pakistan’s civil society, to participate in a series of partner outreach programs, including webinars and roadshows, to be held shortly after the brand launch leading to a grand GB Invest Conference in March 2022, at Karakorum International University in Gilgit City. This will be the first-of-its-kind convention for impact investors in the region. The event will set the spotlight on GB’s unique feasibility for harnessing responsible investments into equitable economic opportunities for social prosperity while serving as an excellent networking platform for global, national, and regional stakeholders to foster collaborations and businesses.
The GB Invest Initiative and GB Invest Conference 2022 will be backed by the full support of the Board of Investment (BOI), speakers said at the occasion.
