French Companies Show Interest In Building Ski Resorts In Gilgit Baltistan

ski resorts gilgit baltistan french companies
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Pakistan is that one country that has it all in terms of beauty. You will find the lush green mountains, the snow-capped peaks, the deserts, and the beaches. Every geographical feature exists in this part of the sub-continent. This is why the country has a lot of scope in tourism attracting investors. In that line, it was announced that a few french players may be interested in building ski resorts in Gilgit Baltistan.

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French Delegation

The announcement was made by Federico Juan Tomas Espana, the French Honorary Investment Counsellor during the Delegation’s visit. He said that a few enterprises want to invest and further uplift the tourism sector of the country. The Delegation was led by Federico Espana. Secretary Board of Investments (BOI), Fareena Mazhar received them.

The BOI has arranged for the delegation to visit 5 districts. The government of G-B and the BOI have coordinated to facilitate the group as much as possible outlining the itinerary to include districts of Nagar, Ghizar, Astore, Phandar, and Skardu. Secretary BOI also said that this comes in line with the recent Investment strategy for the 2020-2023 period. The aim of it was to attract foreign investments in various sectors.

BOI on foreign investments

She said:

“The strategy provides a comprehensive investment cycle, consisting of policy advocacy, market research, and investment facilitation. It offers protection to foreign businessmen through investor tracking, sector scanning, and aftercare services to investors and projects.”

Secretary BOI further added:

“In order to facilitate international investors in Pakistan, the Board of Investment has developed an online database in cooperation with federal and provincial governments. A total of 120 projects worth $60 billion are available on the organization’s website.”

The database said to be user-friendly and interactive, developed by the Board of Investments highlights the relaxations the government gives to the investors for each sector.

This attempt comes as a follow-up to signing the memorandum of understanding (MoU) with Business France. The objective of the MoU is to facilitate investors, in terms of exchanging information and knowledge sharing.

French investors to visit Gilgit Baltistan

After the visit to the five districts of Gilgit Baltistan, the Delegation will return and meet with the government officials from the Ministry of Information Technology and National Incubation Centre (NIC). They will further discuss the mutual areas of cooperation.

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If the ski resorts in Gilgit Baltistan are built, tourism will definitely see a boost in Pakistan. However, we also hope that more tourism investments happen in the Southern region as well. This will lead to the facilitation of domestic tourists who find it difficult travelling all the way to the North for vacations.

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