Over Pakistanis urged to invest in Pakistan’s modern tax-free zones

LONDON: J7 Group Chairman Maqbool Hussain Awan has urged overseas Pakistanis, particularly those living in the United Kingdom, to invest their capital, expertise and experience in Pakistan, highlighting growing opportunities in technology, artificial intelligence, real estate, hospitality and infrastructure.

According to APP, Awan made the remarks during a meeting with Pakistan’s High Commissioner to the UK, Tipu Sultan, at the Pakistan High Commission in London. The High Commissioner endorsed the appeal and encouraged overseas Pakistanis to play a greater role in Pakistan’s economic development.

Awan said J7 Group had travelled to the UK as part of an initiative to engage British companies and the Pakistani community and introduce them to investment and business opportunities in Pakistan.

“There are tremendous opportunities being created in Pakistan,” Awan said, adding that the group was currently undertaking major projects, including shopping malls, hotels, technology zones and other developments.

He said J7 Group was currently involved in around 10 million square feet of construction, which, he argued, demonstrated the scale of development taking place in the country despite concerns surrounding Pakistan’s economy.

Awan said the group had expanded several times over the past two to three years and generated substantial business during the period, adding that its experience demonstrated the opportunities available to investors willing to explore Pakistan’s market.

He particularly highlighted the group’s technology zone, which he said was aimed at facilitating international companies seeking to establish operations in Pakistan and participate in technology transfer.

According to Awan, companies from the United States, Saudi Arabia, the UAE, China and other countries had expressed interest in the technology sector, while J7 Group’s technology zone was working to facilitate their entry into the Pakistani market.

He also pointed to government tax incentives, including a zero-tax regime for qualifying activities under the technology-zone framework, which he said could provide opportunities for international technology and innovation companies.

Awan said the response to J7 Group’s infrastructure developments had prompted the company to consider further expansion to meet growing demand.

He made a particular appeal to British Pakistanis who had spent decades building businesses and professional careers in the UK.

“There are people in the UK who have spent 25, 30 or 40 years gaining knowledge and experience,” he said. “We want them to translate what they have learned into something beneficial for the nation.”

He urged Pakistani professionals working in technology, innovation and other advanced sectors to bring their expertise to Pakistan and collaborate with local businesses and young people.

Awan said overseas Pakistanis, businesses and professionals needed to make a collective effort to create opportunities for the country’s younger generation and help Pakistan navigate challenging global economic conditions.

He added that Pakistan’s improving international profile was creating further opportunities and said greater engagement by the diaspora could contribute to investment, innovation, technology transfer and economic development.

High Commissioner Tipu Sultan endorsed Awan’s appeal and encouraged overseas Pakistanis to explore investment opportunities in Pakistan and contribute their capital, knowledge and international experience to the country’s development.