SECP says scores of sectors including energy, IT & logistics attracting investors
Some of the banks have not publicly disclosed any climate policies aligned with the Paris Agreement in lending and investment activities. photo: file
ISLAMABAD:
Seventy nine new foreign companies have commenced operations in Pakistan over the past three years while international companies invested Rs40.7 billion in key sectors during the same time period.
According to a statement released by the Securities and Exchange Commission of Pakistan (SECP), 61 foreign companies have also carried out shareholding transactions involving local entities. Of these transactions, 29 involved shareholding transfers to other foreign companies, four deals pertained to transfers to foreign individual investors, 20 were related to local individual investors and eight comprised local corporate entities.
“Pakistan is attracting substantial foreign investment across a wide range of sectors, particularly energy, logistics, information technology and agriculture, largely through partnerships with local companies,” said the SECP. “Foreign investors are entering the market through new business establishments, joint ventures, acquisitions and the expansion of existing operations, reflecting growing economic activity and investor interest.”
Many of the transactions resulted from global corporate restructuring among multinational companies. Saudi Arabia’s Wafi Energy acquired Shell Pakistan’s operations as part of Shell’s global portfolio reorganisation, while Dubai-based PTA Global Holdings obtained a majority stake in Lotte Chemical Pakistan following an international agreement between Lotte Chemical and TotalEnergies.
Switzerland’s Gunvor Group and Total Parco acquired equal stakes in TotalEnergies Pakistan, while Saudi Aramco purchased a 40% equity stake in Gas & Oil Pakistan Limited (GO Petroleum).
In the logistics sector, UAE-based DP World entered into a joint venture with National Logistics Corporation. In the digital field, Bazaar Technologies acquired Wemsol and Saudi Arabia’s Waqub Data Company secured an 80% stake in Pakistani technology firm Woot Tech.
In telecommunications, PTCL acquired Telenor Pakistan’s operations following regional consolidation in the telecom sector. In pharmaceuticals, Pfizer transferred its Karachi manufacturing plant and related assets to Lucky Core Industries to ensure continuity of local production. France’s Sanofi sold its majority stake to a local investor consortium, after which the company was renamed Hoechst Pakistan.
Also, the electric vehicle industry has seen new entrants including BYD, Chery Automobile and NWTN Motors.
