Dutch oil company to invest $2.8 billion in Pakistan

The world-famous Dutch oil company, Royal Vopak will invest 2.8 billion US dollars in Pakistan due to improved investment regime and conducive business environment being provided by the government.

This was revealed during a meeting between a delegation of Royal Vopak and Adviser to Prime Minister on Commerce, Textile, Industries and Production, and Investment, Razak Dawood in Islamabad, Radio Pakistan reported.

They also discussed the new opportunities for investment related to Terminal and Storage Facilities of Liquefied Natural Gas (LNG) in Pakistan.

Earlier in August, Dawood urged the South Korean companies to invest in Pakistan owing to its improved global ranking in ‘Ease of Doing Business’ Index by 11 points in 2019.

“Korea imports US$ 535 billion goods annually in the world, which offers huge potential for Pakistan,” he said in a statement.

The Advisor said the government would welcome the Korean importers’ delegation to Pakistan. He said that KOIMA, the largest Korean importers association is keen to enhance imports from Pakistan.

Chairman KOIMA, Mr Hong Kwang Hee stated that Pakistan is becoming an important destination for Korean imports and KOIMA believed that Pakistani market could be tapped for cheaper imports to Korea.