Post Delegation Visit Report June 21-2011

Transcription

Post Event Report
Road Show and High Level
Investment Delegation’s Visit to
the Republic of Korea
Headed By
Honourable Chief Minister Sindh
Syed Qaim Ali Shah
17th -20th May 2011
Delegation Visit Report
th
th
Sindh Investment Delegation’s Visit to the Republic of Korea, 17 -20
MAY 2011
MESSAGES
Syed Qaim Ali Shah
Chief Minister Sindh &
Chairman, Sindh Board of Investment
The present Government realizes the importrance of foreign
investment as a catalyst to economic growth and job creation. The
developed countries have sizable outlays for outward investment
and Pakistan with its investment friendly policies offers to be an
attarctive destination for foreign investment.
I feel privileged to lead the investment delegation organised by
Sindh Board of Investment to the Republic of Korea comprising of
members of Public & Private sector. The endeavour by Sindh Board
of Investment to showcase Sindh’s potential for investment both in
rural and urban economy is demonstration of presents government’s commitment to
provide unprejudiced development opportunities to all parts of Province. It also opened
new vistas of trade & investment and prospects for stronger economic ties between
Republic of Korea and Pakistan.
The Republic of Korea already has sizable investment in Chemical, Infra structure, Transport
and Engineering & Construction business. Our visit has fostered investor’s confidence who
have committed to enhance the current investment levels by manyfolds. We have been able
to highlight various biusiness opportunities in the province of Sindh as Pakistan remains a
choice location for Korean investors.
We have achieved some major breakthroughs in the areas of infrastructure development,
chemicals, renewable energy and steel industry. I must acknowledge the participation of
H.E. Mr. Choong Jo Choi who accomapnied us which clearly demonstrate Korean
Government’s commitment towards Pakistan.
I appreciate the efforst made by Sindh Board of Investment and Pakistan’s Mission in Seoul
for making this a meaningful and result oriented visit.
[2]
th
th
MAY 2011
MESSAGES
Mr. Muhammad Zubair Motiwala
Vice Chairman, Sindh Board of Investment &
Advisor to Chief Minister Sindh on Investment
Sindh Board of Investment has been established with an objective to
develop and promote an investment friendly environment to boost
economic activity, bring value addition to all sectors of economy and
encourage public private partnership for socio-economic development of
Pakistan in general and Sindh in particular.
Sindh Investment Delegation’s visit to the Republic of Korea organized by
Sindh Board of Investment and Pakistan’s Mission in Seoul was a
continuation of the process to increase current level of Korean
investment. It was a true projection of Sindh’s competitive advantage
which rest on its wide network of industrial estates, 350 KMs long coastline, huge Thar Coal reserves
with potential to produce 100,000 MW for 300 years, Wind Corridor having potential to generate
50,000 MW, nucleus of headquarters of business houses, large agricultural, industrial & aquaculture
base, year round crop production (wheat, cotton, rice, sugarcane, fruits and vegetables), mineral
reserves (coal, granite, silica sand, alum, limestone, salt, gypsum), fisheries and livestock production
and talented and skilled human resources.
A large number of Korean companies are already working in Pakistan in Auto Parts, Machines,
Chemicals, Pharma & Medical Equipments, Tire & Tube, Fabric & Yarn, Electronics, Iron & Steel
sectors. These include names like Hyundai, Samsung, Lotte, LG Chemicals etc. M/s Deokjae
Construction Company of Korea has already started work on the first Public Private Partnership road
project of Hyderabad-Mirpurkhas Dual Carriageway.
During delegation’s visit initiatives were taken to present projects offered by Sindh Government and
the private sector among Korean investors especially in the sectors of Energy & Power, Engineering
& Construction, Urban Development, and Transport & Logistics.
I would like to acknowledge the cooperation from Korean Embassy in Pakistan, KOTRA, Embassy of
Pakistan in Seoul, Board of Investment (Federal), various Department of Government of Sindh and
last but not the least my dedicated team at SBI. I am also privilege to thanks Honourable Chief
Minister Sindh and H.E Ambassador of Korea in Pakistan to accompany us and endorse the
seriousness of efforts made by us. You all have made this endeavour a success and I look forward for
the same spirit & continuous support for our initiatives in future as well. Your cooperation is highly
appreciated.
[3]
th
th
MAY 2011
OUR GRATITUDE
Sindh Board of Investment has earned remarkable achievements in a
short span of time. Although it has successfully performed the
challenging task of putting SBI on the investment map in local market
with ease, it was yet to be introduced properly to the wide spectrum of
international business community.
Hence, we took the challenge to promote immense potential of Sindh
among investors of friendly countries of the world. SBI aimed to achieve
its objectives through dedicated efforts comprising of exchange of
investment delegations, match making of businesses and road shows.
In pursuance of our efforts, SBI organized a high level Investment Delegation to Republic of Korea
from 17 – 20 May, 2011. The delegation was led by Honourable Chief Minister Sindh and
accompanied by Advisor to Chief Minister Sindh on Investment along with leading businessmen,
relevant government agencies, conglomerates, trade associations and prominent Chambers of
Sindh.
SBI and the rest of stakeholders were very enthusiastic for the Road Show. Every task was performed
with the finest detailing and perfection. We are thankful to Embassy of Pakistan, Seoul for its
valuable contribution, proactive role and immense support from diplomatic and commercial office to
make Road show in Korea a profound success.
I must place on record my gratitude to all our participants especially H.E. Mr. Choongjo Choi,
Ambassador of Korea in Pakistan, Chairman BOI and those from the Private sector whose
participation in the event was the key to its success. SBI would also like to record its appreciation to
the Government of the Republic of Korea and Korea Trade Investment Promotion Agency (KOTRA)
for the hospitality and courtesy extended to it during its visit.
SBI has now take up the challenge of coming up to the expectations generated by the Road Show in
the Republic of Korea because we at SBI believes that chances of Improvement are always present
even in perfection.
This report is an attempt to describe the initiative in greater detail and documents some of
the outcomes, learning and observations.
Mohammad Younus Dagha
Secretary Investment / Director General
Sindh Board of Investment
[4]
th
th
MAY 2011
TABLE OF CONTENT
Executive Summary.........................................................................................................................5
Sindh Investment delegation’s visit to the Republic of Korea.........................................................6
Overview.............................................................................................................................6
Delegation’s Visit Objectives...............................................................................................6
Achievements......................................................................................................................7
Program Outline...............................................................................................................12
SBI Team............................................................................................................................16
Embassy of Pakistan, Seoul Team.....................................................................................17
Delegation Composition..................................................................................................................19
Official Delegation..............................................................................................................19
Private Sector Participants.................................................................................................20
Key Sectors......................................................................................................................................21
Investment Initiative Highlighted during Visit.................................................................................22
Sindh Investment Conference Seoul 2011......................................................................................23
B2B Meetings in collaboration with KOIMA....................................................................................27
List of Korean companies for B2B meetings......................................................................27
Korea Overseas Investment Fair 2011.............................................................................................30
Seminar & Symposium.......................................................................................................31
Overseas Investment Exhibition.........................................................................................33
Pakistan Country Seminar at KOIF 2011.............................................................................34
Memorandum of Understandings...................................................................................................36
Signing of MOU with KOSPO..............................................................................................37
Signing of MOU with KOIMA..............................................................................................37
High Level Meetings........................................................................................................................39
Feedback from delegation participants..........................................................................................42
Conclusion.......................................................................................................................................43
Annexure: Press Coverage
[5]
th
th
[6]
MAY 2011
th
th
MAY 2011
EXECUTIVE SUMMARY
In May 2011, Sindh Board of Investment took initiative to organise a high level Investment
delegation led by Honourable Chief Minister Sindh and accompanied by Ambassador of the Republic
of Korea in Pakistan, senior Government Functionaries and leading businessmen to the Republic of
Korea. The effort was intended to promote investment opportunities and projects among the
Korean investors. It was also aimed for sourcing technologies, business to business matchmaking
and to learn from Korean experience in various sectors of economy.
The Republic of Korea (South Korea) is 15th largest economy in the world with GDP of 1,007,084
(million USD) and Per Capita GDP Growth rate of about 6.1%. The country has made remarkable
progress in last half-century. When the Japanese occupation ended in 1945, South Korea’s economy
was an impoverished and agrarian economy. Since the 1960s, South Korea has achieved an
incredible record of growth and global integration. Sustained high growth has seen living standards
rise steadily and South Korea has emerged as a highly industrialised and internationally competitive
economy.
The delegation’s visit was reaffirmation of the Government’s commitment to boost economic
activity in the Province of Sindh. The main highlight of the delegation visit was organization of Sindh
Investment Conference Seoul 2011; it was the first major initiative to showcase potential of Sindh
province as an ideal destination for investment among Korean investors. The conference was
organised in collaboration with Korea Chamber of Commerce & Industry (KCCI) and attended by
various business Houses in Korea. It was chaired by Honourable Chief Minister Sindh, where
presentations were given on investment opportunities available in various sectors namely Coal &
Energy, Livestock & Fisheries, Urban Development, Transport and Construction sectors.
During the visit, The Honourable Syed Qaim Ali Shah, Chief Minister Sindh also witnessed the signing
of MOU with Korean Importers Association (KOIMA) in order to boost export from the province of
Sindh. He also attended the ceremony for Signing of MOU with Korea Southern Power Company
(KOSPO) for establishment of Wind Power project of 2000 MW in Gharo Keti Bandar Wind Corridor.
In order to increase interaction between Pakistani & Korean businesses, B2B Meetings were
organised in collaboration with KOIMA. The event was widely attended by Korean business houses
whereby business opportunities in various sectors of economy namely Coal & Energy, Fisheries,
Textiles, Construction & Engineering, Food & Beverages and Agro Processing were discussed. G2G &
G2B Meetings were also organised with Ministry of Land, Transport and Maritime Affairs, Sambu
Construction, JKL Partners, Korea Chamber of Commerce & Industry, Doosan E&C, Lotte E&C,
POSCO, KOSPO, Hyundai Heavy Industries and Lotte Group.
The delegation also participated in Korea Overseas Investment Fair-KOIF 2011 and set up a pavilion
in the exhibition with an aim to showcase investment opportunities available in Sindh, Pakistan. The
event was also attended by more than 32 countries of the world. A major highlight of the occasion
was Pakistan Country Seminar at KOIF 2011 where investment opportunities in Pakistan were
presented in front of Korean entrepreneurs primarily interested in overseas investment.
[7]
th
th
MAY 2011
ROAD SHOW AND HIGH LEVEL INVESTMENT DELEGATION’S
VISIT TO THE REPUBLIC OF KOREA - AT A GLANCE
OVERVIEW
Sindh Board of Investment (SBI) has a very strong conviction in the future of Sindh as a regional
economic hub. SBI aimed to achieve its objectives through dedicated efforts comprised of exchange
of investment delegations, match making of businesses and road shows. It also believes that Sindh’s
immense economic potential requires sustained public-private collaboration.
In pursuance of its efforts, SBI in coordination with the Pakistan Mission in Seoul, Korea had
organized a Road Show and High Level Investment Delegation’s visit to the Republic of Korea.
The delegation was led by Honourable Chief Minister Sindh and accompanied by Mr. Muhammad
Zubair Motiwala (Advisor to Chief Minister Sindh on Investment), H.E. Mr. Choongjo Choi
(Ambassador of Korea in Pakistan), Mr. Saleem H. Mandviwala (Chairman BOI), Mr. Mohammad
Younus Dagha (Secretary Investment), Mr. Ajaz Ali Khan (Secretary Coal & Energy Development
Department), Dr. Laiq Ahmed Memon (Secretary Fisheries), Mr. Sohail Rajput (Director General
Public Private Partnership Unit) and 18 representatives of leading businessmen and relevant
government agencies.
Road show in Korea was comprised of following events/activities.
Sindh Investment Conference 2011 (17th May 2011)
B2B Meetings (18th May 2011)
G2G Meetings (17th - 20th May 2011)
Korea Overseas Investment Conference- KOIF 2011 (19th & 20th May 2011)
DELEGATION’S VISIT OBJECTIVES
The objectives of the visit were as follows:
To strengthen existing Korean investment and explore opportunities to enhance the current
level of investments.
To showcase Sindh’s investment potential to potential Korean investors and attract Korean
investment which would play an important role in socio economic development.
Business to Business match making of Pakistani and Korean investors. A major objective of
this visit was to enhance and intensify the level of business engagement between the two
countries so the bilateral trade volumes and relationships can multiply.
To Enhance Pakistan’s perception rating and address the major concern caused by media
coverage of the adverse security situation in the country and the extremely negative travel
[8]
th
th
MAY 2011
advisories issued by diplomatic missions. It was an effort to convince Korean investors that
the present democratic disposition in Pakistan has the will and the capacity to overcome this
challenge as well.
To participate in KOREA OVERSEAS INVESTMENT FAIR 2011 and capitalize the opportunity to
project Sindh immense potential among 32 participating countries and Korean investors
specifically interested in overseas investment.
ACHIEVEMENTS
Overall it was a successful trip and some major achievements were made in terms of trade and
investment. An encouraging response had also been received from chambers, associations, trade
bodies, private companies as well as government organizations both in Korea and Pakistan.
Following breakthroughs have been achieved in Investment, Energy, Coal Field Development,
Infrastructure and Mass Transit System.
For the first time, overseas investment seminar and other such promotional events were
held outside Pakistan to showcase the investment potential of Sindh.
1st ever Sindh Investment Seminar was organized successfully at an overseas destination i.e.
Seoul to promote investment potential of Sindh among foreign/Korean investors. The
seminar was organised in collaboration with Korea Chamber of Commerce & Industry.
Presentations were given on potential investment projects in coal & energy sector, livestock
& fisheries sector, construction, tourism and urban transport.
In order to seek investment in the power sector, MOU was signed with Korean Southern
Power Company (KOSPO). According to this MOU, KOSPO will establish Wind Power projects
of total gross capacity of 2000 MW in Gharo Keti Bandar Wind Corridor in the Province of
Sindh. The project will be completed in 5 phases as follows.
o
1st Phase: 200 MW
o
2nd Phase: 300 MW
o
3rd Phase: 500 MW
o
4th Phase: 500 MW
o
5th Phase: 500 MW
Another most important achievement during the delegation’s visit was signing of MOU with
Korean Importers Association (KOIMA) in order to boost exports from the province of Sindh.
o
It will enable opening of Korean market for Pakistani goods as the present level of
trade is in favour of Korea.
o
According to this understanding, the cooperation between the parties will be
directed primarily towards using the advantage of the import potential of the
[9]
th
th
MAY 2011
Association to achieve higher levels of Sindh, Pakistan exports and develop more
cooperation in the areas of trade & business environment.
o
It will also enable the establishment of direct contact between Korean businesses
and Pakistani entrepreneurs. This will attain through an increased cooperation
through promotion of contacts between representatives of trade promotion
agencies of both countries.
o
Both parties also develop consensus regarding collaboration for better participation
in fairs & events along with carrying out Seminars which promote Pakistani
products.
o
Sindh Board of Investment & KOIMA also decided to exchange commercial
information of sectors of interest of import for the Korean market.
Advance negotiations were held between Pohang Iron and Steel Company (POSCO) and AlTuwairqi Steel Mills Limited (TSML) for joint venture to develop Phase-2 of ongoing project
of their DRI Plant.
POSCO is the world's third-largest steel maker by market value and Asia’s most profitable
steelmaker.
Government of Sindh has also invited POSCO to setup their wholly owned steel
manufacturing plant in Pakistan. Discussions were held with POSCO regarding participation
in Thar Coal project.
Private sector delegates also had a successful visit in terms of business. Successful B2B
session was arranged in collaboration with Korean Importers Association (KOIMA) and
Embassy of Pakistan in Korea. The session was attended by representatives of more than 32
Korean companies from Textiles (Garments & Leather Auxiliaries), Food & Beverages (Dairy
Sector & Agro Processing), Energy (Renewable like Solar, Wind, Waste to Energy & Coal),
Infrastructure & Construction, Transport etc. Leading businessmen from Pakistan
accompanying the Chief Minister had fruitful B2B meetings with their Korean counterparts
who showed great interest in Pakistani goods and have agreed to come to Karachi towards
the end of this year.
During the visit, a major breakthrough was achieved whereby Lotte has have assured to jack
up their investment by adding another USD 400 Million in their existing PTA plant. The
purpose of this investment would be to double Lotte’s existing plant capacity in Pakistan.
This also shows confidence in the present Governments investment friendly policies and
proactive initiatives to induce investment in the country. Lotte is a success story of Korean
investment in Pakistan.
An understanding has also been reached with Hyundai Heavy Industry for setting up Wind
Turbine Assembly Plant in Pakistan.
[10]
th
th
MAY 2011
Successful high level meeting was held with Korean Ministry of Land & Maritime Affairs to
discuss Karachi Mass Transit System including BRTS/RRTS and CNG Bus Project. The Republic
of Korea has shown rapid growth in transport and infrastructure development. Seoul has
one of the largest urban rail networks in the world, in that meeting. Both parties agreed to
extend cooperation in transport sector and gain benefit from Korean experiences.
Discussions were held with Korean Air to operate direct flights to Pakistan making it
convenient for businessmen undertaking journey between the two countries. Korean Air is
national carrier and the largest airline of South Korea with global headquarters located in
Seoul.
A meeting with the Chairman Korea Chamber of Commerce & Industry was held whereby
avenues for mutual cooperation to boost trade and Investment between Republic of Korea
and Government of Sindh were discussed in detail. Both parties agreed to collaborate in
future as well to improve contact between Korean Businessmen and Pakistani entrepreneurs
from Sindh Province in different areas.
For the first time, an investment delegation was led by Honourable Chief Minister Sindh. The
Honourable Chief Minister’s presence gave the necessary confidence and reassurance to the
Korean Government Agencies, Businessmen and Prospective Investors regarding seriousness
of effort; and commitment from present government to boost economic activity in the
Province of Sindh. It also served as an endorsement over initiatives taken by Sindh Board of
Investment and Government of Sindh.
The presence of Ambassador of the Republic of Korea as part of delegation communicated
stridently that Pakistan possesses good investment avenues for Korean investors that need
to be explored by Korean investors. He assured full support of the Korean Embassy to
investors who intend to invest in Pakistan. He reiterated Pakistan should not be judged on
the basis of reports of the western media; instead Pakistan should be considered as a
promising destination for investment.
[11]
th
th
MAY 2011
Honourable Chief Minister Sindh, Syed Qaim Ali Shah during an interview with Arirang
Television of Korea
Honourable Chief Minister Sindh, Syed Qaim Ali Shah during an interview with Korea
Times
[12]
th
th
MAY 2011
PROGRAM OUTLINE
Programme for Chief Minister of Sindh and Investment Delegation
17-20 May, 2011
The Republic of Korea (South Korea)
Date
Time
16th May
2011
(Monday)
1635
17th May
2011
(Tuesday)
1000
Name &
Designation
Meeting
Place
Chief Minister & delegation’s arrival at Incheon Int’l Airport
2010/2035 Part delegation (7 private companies arrival at Incheon Int’l Airport)
1000
Ministry of Land, Transport
and Maritime Affairs
to
discuss
Transport,
Mass
Transit and collaboration in
Railway
Mr. Younus Dagha,
Secretary
to
Government
of
Sindh/Director General
Sindh
Board
of
Investment
Interview Arirang with Chief Chief Minister of Sindh
Minister (at hotel)
Ministry
of
Land, Transport
&
Maritime
Affairs
Ramada Hotel
1000
Meeting
with
Sambu Mr. Chung, Advisor with Ramada Hotel
Construction (Chief Minister Chief Minister
to join after interview)
1115-1145
Meeting with JKL Partners Inc Chief Minister, Advisor, Ramada Hotel
(Farming
Investment Ambassador with Vice
Consulting Company)
President JKL
1400-1730
Sindh Investment Conference, Chief
Seoul 2011
Delegation
1510-1530
Meeting with Sohn, KyungShik,
Chairman
Korea
Chamber of Commerce &
Industry in tea break during
Seminar
Dinner by the Ambassador of Chief
Minister
Pakistan at Mughal Restaurant Delegation
(Depart from KCCI at 1915
hours)
1930
18th May
2011
Company
1000
Minister, Korea Chamber
of Commerce &
Industry (KCCI)
Hall
Chief Minister, Advisor, Korea Chamber
Ambassador,
Korean of Commerce &
Ambassador to Pakistan Industry (KCCI)
Hall
Interview with Korea Times
[13]
Chief Minister
& Mughal
Restaurant,
Itaewon
(Wednesday) 1030-1100
th
th
MAY 2011
Meeting with Doosan E & C
Chief
Minister, Doosan E&C at
Chairman Board of Hotel
Investment,
Advisor,
Ambassador
1130-1200
Meeting with Mr. Kim, Jae
Woo, Vice President Lotte
E&C
(Engineering
&
Construction)
Chief
Minister, Ramada Hotel
Chairman Board of
Investment,
Advisor,
Ambassador
1230-1330
Meeting with Air Korea
Chief
Minister,
Chairman Board of
Investment,
Advisor,
Ambassador
1400-1700
B2B Meetings at Ramada
Hotel
with
Korean
entrepreneurs from textile
(including
garments
&
leather), F&B (including Dairy
sector & Agro Processing)
energy (including renewable
like Solar, wind, waste to
energy), hydro and coal,
infrastructure
and
construction, transport and
ICT/electronics
Opening
Speech
by
Advisor/Secretary Investment
and
Korea
Importers
Association (KOIMA), Senior
Manager in the beginning
Meeting with Mr. Cho, Hwan
Eik, President & CEO, Korea
Trade Investment Promotion
Agency (KOTRA) (depart from
Hotel at 1340 hours)
Signing of MOU with Korea
Importers
Association
(KOIMA)
Chief
Minister
delegation
1400-1420
1500-1515
1500-1530
Meeting with Mr. Kim, GwangHo, Chairman, Mona Lisa Co.
1600-1645
Meeting with Mr. Chung,
Joon-Yang, Chairman, POSCO
(Pohang Iron & Steel Company
Ltd)
Signing of MOU for forward
integration of Tuwairqui’s DRI
[14]
& Ramada Hotel
Ramada Hotel
Chief
Minister, KOTRA
Chairman Board of
Investment,
Advisor,
Ambassador
Chief
Minister
delegation
& Ramada
Grand
Room
Hotel,
Ball
Ramada Hotel
Chief
Minister, POSCO
Chairman Board of
Investment,
Advisor,
Ambassador
th
th
MAY 2011
Plant
19th May
2011
(Thursday)
All Day
Participating
in
Korea Chief Minister
Overseas Investment Fair delegation
(KOIF) 2011
and COEX
0930-1015
Attending
Symposium Chief Minister
Program on International delegation
Investment Cooperation
and COEX
Grand
Intercontinental
Hotel
Mr Choi, Joong Gyung,
Minister of Knowledge
Economy
Dr
Cho,
Hwan-Eik,
President & CEO, KOTRA
Representative
of
Participants
Speeches on International
Investment Cooperation
Specialists from UNCTAD,
MIGA etc
1140-1200
Ribbon-cutting Ceremony at Chief
Minister, COEX Hall C-1,
Ambassador, Chairman 3rd Floor
COEX Hall C-1, 3rd Floor
BOI
1210-1330
VIP Luncheon at COEX Grand Chief
Minister, 1015 - 1120
Intercontinental Hotel, Jupiter Ambassador, Chairman
Room
BOI
1200-1400
Exhibition Visit
1650-1750
Pakistan Country Seminar
(Dedicated 1 Hour) at COEX
Hall. Speeches by Hon’able
Mr. Qaim Ali Shah (Chief
Minister
Sindh),
Mr.
Muhammad Zubair Motiwala
(Advisor to Chief Minister
Sindh on Investment), Mr.
Choongjo
Choi
(Korean
Ambassador in Pakistan).
Presentations
by
Mr.
Muhammad Younus Dagha
Private & official delegation excluding
Chief Minister, Chairman BOI, Advisor &
Ambassador
[15]
Harmony Room
in
COEX
Intercontinental
Hotel
1830-2030
20th May
2011 (Friday)
1300-1400
1545-1625
1700-1800
1835-1935
2355
th
th
(Secretary to Government of
Sindh/Director General, Sindh
Board of Investment), Mr. Ajaz
Ali Khan (Secretary to Govt of
Sindh,
Coal
&
Energy
Department),
Mr.
Sohail
Rajput
(Public
Private
Partnership Unit, Finance
Department)
Welcoming Reception from Chief Minister
KOIF
2011
at
Grand Delegation
Intercontinental Hotel (Orchid
Room)
Jumma pray at Itaewon
Mosque (For those members
who would like to pray)
(depart from Hotel at 1200
hrs)
Meeting with Mr. Nam, Ho-Ki
Lee (CEO) Korea Southern
Power (KOSPO) + Mr. Jae,
Sung (CEO), Hyundai Heavy
Industries (HHI)
(Depart from Hotel at 1520
hrs)
MOU signing with KOSPO
Meeting with Mr. Shin, DongBin (Chairman) Lotte Group+
Mr.
Huh,
Soo-Young,
(President) KP Chemical
MAY 2011
and Grand
Intercontinental
Hotel
Itaewon
Chief
Minister, KOSPO or HHI
Chairman Board of Office
Investment,
Advisor,
Ambassador
Chief
Minister, Lotte Hotel
Chairman Board of
Investment,
Advisor,
Ambassador, Secretary
Investment
Dinner from Lotte Group
Lotte
Hotel
(including KP Chemical)
/Korean
Restaurant
(Mugunghwa)
Departure
from
Incheon
International
Airport
to
Pakistan
[16]
th
th
MAY 2011
SBI TEAM
SBI team has worked tirelessly to make this endeavour successful. A name list of SBI team members
contributed directly for making it happen is as follows:
SBI Team
Name
Designation
Vice Chairman Sindh Board of Investment
Mr. Mohammad Younus Dagha
Secretary Investment, Director General
Sindh Board of Investment
Mr. Mehboob-ul Haq
Director Projects
Ms. Phool Kanwal
Project Coordinator/Deputy Director
Coordination
Mr. Adnan Ali Shaikh
Project Coordinator/Deputy Director
Finance
Ms. Hafeeza Nagori
Section Officer (Admin)
Mr. Syed Muhammad Hyder
Accounts Incharge
Mr. Faisal Farooqui
Public Relation Officer
Mr. Noor us Salam Siddiqui
Support Staff
[17]
th
th
MAY 2011
EMBASSY OF PAKISTAN TEAM, SEOUL
With the support of Embassy of Pakistan, Seoul and collaborative efforts from diplomatic and
commercial offices of the Mission, the objectives of the visit were achieved. A name list of Embassy
of Pakistan Team members those contributed directly for making this effort a success are as follows.
Embassy of Pakistan Team, Seoul
Name
Designation
H.E. Mr. Shaukat Ali Mukaddam
Ambassador of Pakistan, Seoul
Mr. Shahbaz M Malik
Deputy Head of Mission/First
Secretary/Incharge Camp Office, Ramada
Seoul
Mr. Fuad Hashim Rabbani
Commercial Counsellor
Mr. Muhammad Humair Karim
Counsellor/Community Welfare Attaché
Ms. Noh, Seung, Min
Social Secretary to the Ambassador
Ms. Shin, Jung-min
Trade Development Officer
Ms. Hong Hyejin
Interpreter/Trade Assistant
Mr. Afsar Khan
Commercial Assistant
Mr. Yousuf Athar Malik
Additional Assistant
Mr. Mansoor Ahmed
PA to First Secretary
[18]
th
th
[19]
MAY 2011
th
th
MAY 2011
DELEGATION COMPOSITION
The delegation comprised of the following:
Official Participants
Private Sector Participants
Member composition of delegation participants is as follows.
OFFICIAL PARTICIPANTS
Investment Delegation Official Participants
Name
Designation & Organization
Honourable Syed Qaim Ali Shah
Chief Minister Sindh
Mr. Saleem H Mandviwala
Chairman Board of Investment (Federal)
Advisor to Chief Minister Sindh on Investment & Vice
Chairman Sindh Board of Investment
Mr. Muhammad Younus Dagha
Secretary to Government of Sindh, Investment
Department/Director General Sindh Board of Investment
Mr. Ajaz Ali Khan
Secretary to Government of Sindh, Coal & Energy
Development Department
Dr. Laiq Ahmed Memon
Secretary to Government of Sindh, Livestock & Fisheries
Department
Mr. Sohail Rajput
Director General, Public Private Partnership Unit, Finance
Department
Mr. Mehboob ul Haq
Director Projects, Sindh Board of Investment
Mr. Tahir Sangi
DS Staff, CM Secretariat
Ms. Phool Kanwal
Deputy Director Coordination, Sindh Board of Investment
Mr. Noor us Salam Siddiqui
Support Staff, Sindh Board of Investment
[20]
th
th
PRIVATE SECTOR PARTICIPANTS
Investment Delegation Private Sector Participants
Participant Name
Organization
Designation
Mr. Zaigham Adil Rizvi
Tuwairqui Steel Mills
Director Projects
Mr. Ishtiaq Ashraf
Tuwairqui Steel Mills
Financial Controller
Sheikh Imranul Haque
Engro Vopak Terminal Ltd
CEO
Mr. Jaffer Ali Naqvi
Deokjae Construction
Country Head
Mr. Asif Haider Mirza
Deokjae Construction
Financial Controller
Mr. Abdul Razzak Lakhani
SGS Pakistan Pvt Limited
Director Operations
Mr. Mustafa Tapal
Tapal Wind Energy Pvt Limited
Chief Executive
Mr. Saleem Parekh
AL-Abbas Fabrics
Executive Director
Mr. Muhammad Rehan Saeed
Kushtiwala
J B Saeed Cattle Farm
CEO
Mr. Sohail Shamim Firpo
Firpo Pvt Ltd (A member of Firpo
Group of Companies)
Director
Mr. Abu baker Siddique
Ace Metal Pvt Limited
Chief Executive
Mr. Tariq Shafi
Lords Impex
Chief Executive
Mr. Mohammad Faisal Iftikhar
Deep Blue Seafood
Chief Executive
Syed Mohammad Iftikhar Zaidi
Peoples Fisheries
CEO
Mr. Shafiq Ahmed Khoso
Jacobabad Aqua Farms
Chief Executive
Qazi Tahir Nadeem
World Wide Vision Pvt Ltd
Chief Executive
Officer/Director
Mr. Imtiaz Hussain
Imtiaz Enterprises
Managing Director
Mr. Manzoor Ahmed Awan
Shani Trading Corporation
Executive
[21]
MAY 2011
th
th
MAY 2011
KEY SECTORS
During delegation’s visit, prospects and opportunities for synergies of efforts between the Republic
of Korea and Province of Sindh have been identified in prominent sectors of economy namely
Energy, including coal based as well as renewable like wind, hydro, solar and bio energy
Textile and Readymade Garments Sector including leather garments and auxiliaries
Fisheries Sector
Food and Beverage Sector
Mines, Minerals and precious stones
Agro Processing including Dates/Mango Processing
Information Technology & Communication
Electronics
Infrastructure and Construction Sector including highways, bridges etc
Tourism Sector
[22]
th
th
MAY 2011
INVESTMENT INITIATIVE HIGHLIGHTED DURING
DELEGATION’S VISIT
Following Investment Projects were highlighted during the delegation’s visit.
Solar Power Plant Projects
Coal based Power Plant Projects
Wind Energy Project at Gharo Wind Corridor in Sindh
Bio-mass Energy Projects: Potential of generating at least 1000 MW of power, using Bio
gas and Rice husk
Karachi Cattle Colony Project: Landhi Cattle Colony Project with potential of 25-35 MW
electricity generation
Aqua Park Project along the coastline
Livestock Zone at Bhambore in Public Private Partnership mode
Bus Rapid Transit System (BRTS)
Rapid Rail Transit System (RRTS)
Shaheed Benazir Bhutto CNG Bus Project
Badin Hyderabad Dual Carriageway
Keenjhar Lake Resort
IT Tower Project
Karachi Education city
Marble City
Investment Opportunities in LNG Terminal
[23]
th
th
MAY 2011
SINDH INVESTMENT CONFERENCE SEOUL 2011
Sindh Board of Investment in collaboration with Pakistan Embassy in Seoul and Korea Chamber of
Commerce & Industry organized the first ever overseas Sindh Investment Conference, Seoul-2011.
The Conference was chaired by Honourable Chief Minister Sindh.
The Conference is in consequence of high level investment delegation led by Honourable Chief
Minister Syed Qaim Ali Shah and accompanied by H.E. Mr. Choong Jo Choi, Ambassador of the
Republic of Korea in Pakistan, Mr. Muhammad Zubair Motiwala, Advisor to Chief Minister, Mr.
Muhammad Younus Dagha, Secretary Investment and other senior officers of the Provincial
Government. The delegation also comprises of 18 representatives from prominent business houses
which included Engro, Al-Tuwairqi and others.
The event was largely attended by Korean Businessmen who took great interest in the investment
opportunities available in Sindh. In this Conference, more than 60 major Korean business houses
interacted with public and private sector participants of the delegation to discuss investment
opportunities in Pakistan.
Honourable Chief Minister, Syed Qaim Ali Shah in his address invited the Korean investors to come
forward and make investment in Sindh which is the heart of the economy of the Pakistan. He further
added that the people of Pakistan are looking forward to learn from the Korean Expertise.
Honourable Chief Minister Sindh, Syed Qaim Ali Shah delivering speech at Sindh
Investment Conference, Seoul 2011
[24]
th
th
MAY 2011
Mr. Muhammad Zubair Motiwala in his speech highlighted
that foreign firms have not ever reported losses during
operation in Pakistan. He added that Pakistan especially
Sindh has continued to remain a destination of choice
among foreign investors despite deteriorating law and order
situation.
Mr. Advisor thanked the Korean Chamber of Commerce &
Industry for organizing a successful event with SBI.
H.E. Mr. Shaukat Mukaddam in his address highlighted that
Pakistan possess immense opportunities for investment in
all sectors of economy.
He invites Korean investors to step forward and seek
opportunities in Pakistan. Mr. Ambassador urged the Korean
businessmen that his office would facilitate all such
initiatives by Korean businessmen for investing in Pakistan.
H.E. Mr. Choong Jo Choi, Ambassador of Korea to Pakistan
very graciously accompanied the Pakistani delegation in
Korea.
He urged the Korean businessmen that Pakistan is the most
opportune destination for Korean investment.
Mr. Choi extended full support from his mission and ensure
all possible support to intending Korean businesses looking
forward to venturing into Pakistan.
Secretary Investment in his presentation gave brief
regarding projects available for investment in Sindh.
He highlighted the immense investment potential in
Renewable Energy & Mass Transit sectors. Mr. Dagha also
shared detailed information about Infrastructure
Development of Karachi Education City and Marble City
which are being very enthusiastically pursued by Sindh
Board of Investment.
[25]
th
th
MAY 2011
Considering the Korean expertise in Aqua Culture and
processing, Secretary Fisheries presented investment
opportunities that are being offered by the Government of
Sindh for technology transfer and investment in the
Fisheries and Livestock sectors.
He gave brief Project Profile and opportunity analysis for
Bhambore Dairy Village, Meat Processing Zone &
Development of a Brackish Water Aquaculture / Mariculture
Park along the coast of Sindh
Secretary Coal gave detailed presentation to the Korean
Businessmen and invited them to join hands in developing
the Thar Coal reserves which can rid the country of its
economic woes.
He brief Korean investors regarding potential of Coal to
change the Energy & Power sector situation in Pakistan. A
detailed review of power purchase guarantee scheme and
strategic alliance between the Coal & Power sector was also
explained in his presentation.
Director General PPP Unit also gave a presentation on
various projects that are being offered by the Government
of Sindh under Public Private Partnership mode of
investment.
A brief overview of investment opportunities available in
LNG terminal business was presented in the presentation
given by CEO, Engro Vopak Pakistan. He also invited Korean
investors to set up LNG terminal at Port Qasim.
In order to strengthen Korean investor confidence, success
story of Hyderabad-Mirpurkhas Dual Carriage Way
constructed by Deokjae Construction, who itself is a Korean
Company was also highlighted.
Representative of Deokjae Pakistan gave detailed
presentation on main features of the Project in Public
Private Partnership mode.
[26]
th
th
MAY 2011
The conference was followed by Q & A Session. Korean Businessmen enthusiastically participated in
this session and raised queries to further enhance their understanding regarding investment climate
and investment opportunities in Pakistan. The Q&A aroused many questions which were answered
by the officials aptly.
Q&A session during Sindh Investment Conference, Seoul 2011
The Conference concluded with enthusiastic response from Korean businessmen and Korea
Chamber of Commerce & Industry.
[27]
th
th
MAY 2011
B2B SESSION IN COLLABORATION WITH KOIMA
During delegation’s visit, SBI structured match making activities through Business to Business
meetings between delegates and potential investors in the Republic of Korea.
Successful B2B session was arranged by SBI in collaboration with Korean Importers Association
(KOIMA) and Embassy of Pakistan in Korea.
Leading businessmen from Pakistan accompanying the Chief Minister had fruitful B2B meetings with
their Korean counterparts who showed great interest in Pakistani goods and have agreed to come to
Karachi towards the end of this year.
Speaking on the occasion, Advisor to Chief Minister Sindh Mr. Muhammad Zubair Motiwala said that
Pakistan produces abundant raw material but due to lack of modern technology, it has not been able
to achieve efficiencies in its production stage. He invited the Korean companies to come forward to
transfer technology and share their knowledge with their Pakistani brothers.
The Ambassador of Pakistan thanked the Managing Director of KOIMA for organizing successful B2B
meetings for Pakistani businessmen.
LIST OF KOREAN COMPANIES FOR B2B SESSION
List of Korean Companies for B2B Meetings
Company Name
Participant
Ryole
Position
President
Industry
Yumok Co Ltd
Jwoong
Rew
GAGAGO Trade
Kangpyo Lee
President
Construction
&Engineering,
Construction Power, Electronic Agro
Processing,
LNG Terminal
K.M.S
Harry Liu
President
Fish, Fruit, Food
Koomyang
Industries
Hanjin Hue F Co.,
Ltd
V2R
Byungha Cho
President
Construction Material
Jeong Seok Kim
Manager
Taeseong Kim
CEO
LED TV
ILJU Trading Co.,
Ltd
Changsik Cho
General Manager
Potato Starch, Duck Meat.
Seafood Co, Ltd
Kyung Hwan Ju
Director
Frozen seafood : shrimp (vannamei,
black, tiger etc) of whole round,
value added products etc
[28]
th
th
MAY 2011
Daeyoung Corp
Youngsub Han
President
Ace trading corp
Soon Kyu Lee ,
Hyun Koo Lee
CEO/Sales Manager
LNS Corp
Ho cham Kang
President
Solar Energy, Water Treatment, Solid
Waste Management
Daeryung Corp
Hyun jae Park
General Manager
Dong In Texchem
co.,ltd
Jein Chang
Assistant Manager
Construction & Engineering, Power
Aids And Heat Exchanger, Copper
Nickel Tube & Pipe
Textile , Dyeing &Printing Chemicals
UKB(Uni
Kor
Battery) co., ltd
Eric Kim
Manager
Eeastone
co.ltd
LS Trading
Dong seok Lim
Corp
Taeyoung FS
C.K.Global
Ltd.
Co.,
Dal Seok Choi
President
Tae CHOI
President
Kyung-hee
(Esther)
Lee
Fisheries, Food & beverage, Poultry,
Wind Power, Solar Energy, Solid
Waste
Management,
Water
Treatment Plants
Textile , Food & Beverages,
Construction (Stone & Tiles)
Exporting Lead Acid Industrial
Battery And Battery Machine
Material For Socks ,Fresh Fruit ( ExIm)
Electronics,
Construction
&
Engineering
Frozen Seafood,
Overseas Marketing
Team
Seafood
Haesung
Dongsik Sung
Overseas Marketing
Team/Manager
Structural Steel Manufacturing &
Erection In Plant Industry
Eeasterntex .,ltd
Sungjin Ji
Director
Industrial Yarn, Fabric
Korea
trade
development
institute
Henry
Kim/ChaeMu Lee
Managing
Director/Executive
Director
Wind/Solar
Edition Cue co.,
ltd
S.L .Lim
President
Food & Beverage, Dates & Mango
Value Addition
Shinpoong Corp
Dokko Younghun
President
Solar Energy
More
International
Co.,Ltd
AID Corp
S.R.Lee
Managing Director
Textiles
HyungHoe Huh
President
Wind Power, Solar Energy
Deokjae
Constuction
Pakistan
(Pvt)
Ltd.
SS Company
Kim Sun Ho
CEO
Construction/Engineering Part
Lee Yong (David)
E-land
2 Working level
Textile
[29]
Power
th
th
Daewoo
Engineering
Sambo
Engineering
Barnet & Co.
2 Working level
Manger level
Lee, Jeong Yong
Senior Director
Rara Jeon
CEO
Halal food business, Textile
B & CP
Koo Ja Hak
CEO
F & B, Textile
L.S Trading
Choi Dal Suk
CEO
Electronic Components
Sam Baek Heavy
Industries
Lee Kwang Yeon
CEO
Dong In Textile
Corporation
Won Yong-Jae
CEO
Textiles
[30]
MAY 2011
th
th
MAY 2011
KOREA OVERSEAS INVESTMENT FAIR 2011
The Chief Minister Sindh led delegation also participated in the “Korea Overseas Investment Fair
(KOIF)-2011”. Korean Overseas Investment Fair – KOIF 2011 was a unique event that provides an
opportunity to interact with more than 200 Korean companies those were interested in making
overseas investment to expand their business scope in near future.
Main highlights of the Events would be Overseas Investment Exhibition, Individual Seminar on
Investment Environment, Incentives and Special Projects, Investment Corporation Symposium and
Networking Luncheon & reception. Venue of the event will be COEX, Seoul, Korea. Deloitte Korea
will join as one of financial advisors to assist Korean companies with overseas direct investment or
M&A.
The Korean National Trade & Investment Promotion Agency (KOTRA) organized this event held on
May 19-20, 2011 at COEX, Seoul, Korea. The event was hosted by the Ministry of Knowledge
Economy. Main highlights of the Events were as follows.
Investment Corporation Symposium and Networking Luncheon & Grand Reception
Overseas Investment Exhibition
Individual Country Seminar on Investment Environment, Incentives and Special Projects
Pakistan delegation enthusiastically participated in all events during KOIF 2011.
The Chief Minister inaugurated the Korea Overseas Investment Fair-2011 along with 12 other
dignitaries. He also gave a speech on the occasion informing about commitment of Government of
Sindh for promoting investment in Sindh.
Honourable Chief Minister Sindh along with Mr. Shaukat Mukaddam, Ambassador of
Pakistan in Korea, Mr. Saleem H. Mandviwala, Chairman BOI along with dignitaries at
Inauguration ceremony of Korea Overseas Investment Fair-KOIF 2011
[31]
th
th
MAY 2011
INVESTMENT CORPORATION SYMPOSIUM
KOTRA had invited Honourable Chief Minister Sindh
as the Guest of Honour to the event.
The Honourable Chief Minister Sindh, Chairman BOI,
Vice Chairman SBI, Secretary Investment along with
all delegation members both from Public & private
sector attended the Investment Corporation
Symposium.
During the Symposium, Speakers from
Korea Trade and Investment Promotion
Agency (KOTRA), World Bank, Multilateral
Investment Agency (MIGA) and UNCTAD
gave detailed presentations on the subject.
The symposium was widely attended by
investment promotion agencies and
representatives from more than 32
countries
Honourable Chief Minister Sindh, Syed Qaim Ali Shah (Advisor to Chief Minister on
Investment, Mr. Shaukat Mukaddam, Ambassador of Pakistan in Korea during
Symposium at Korea Overseas Investment Fair-KOIF 2011
[32]
th
th
[33]
MAY 2011
th
th
MAY 2011
OVERSEAS INVESTMENT EXHIBITION
SBI has also set up a pavilion in the exhibition with an aim to showcase investment opportunities
available in Sindh, Pakistan. More than 32 countries including France, Switzerland, India, Thailand
and Japan participated in the Overseas Investment Exhibition.
Honourable Chief Minister Sindh along with representatives of KOTRA during
Exhibition at Korea Overseas Investment Fair-KOIF 2011
The investment fair was visited by delegates of various countries who showed great interest in the
energy sector, infrastructure development and other prominent sectors of the provincial economy.
Through this exhibition, Korean
companies had an opportunity
to find an optimal location for
establishing their investment
strategy. Participating countries
also had an opportunity to meet
with a number of potential
partner
companies
and
encourage Korean attendees to
invest in their country.
[34]
th
th
MAY 2011
PAKISTAN COUNTRY SEMINAR ON INVESTMENT ENVIRONMENT,
INCENTIVES AND SPECIAL PROJECTS AT KOIF 2011
Along the side lines of Korea Overseas Investment Fair, SBI also held a country specific seminar on
investment environment, incentives and special projects.
Mr. Muhammad Zubair Motiwala, Advisor to Chief Minister Sindh in his address to the Korean
businessmen read out the Chief Minister’s message.
He announced that Government of Sindh, in
principle, has agreed to offer an exclusive enclave
to Korean entrepreneurs to setup their business in a
dedicated Special Economic Zone.
He informed that such SEZ would offer domestic
environment to prospective Korean investors. Mr.
Advisor promised to offer tax incentive and
exemptions for Korean companies intend to invest
in dedicated Korean Special Economic Zone.
H.E. Mr. Choong Jo Choi, Ambassador of Korea to
Pakistan extended full confidence on positive steps
taken from Pakistan to facilitate foreign investors.
Mr. Choi specifically highlighted the security issue
and ensures investors to not see Pakistan from the
lens of Western media. He reinforces full support
from his mission to intending Korean businesses
looking forward to venturing into Pakistan.
H.E. Mr. Shaukat Mukaddam, Ambassador of
Pakistan in Korea laid emphasis on increasing
volume of trade between Pakistan and Korea.
In his address, he highlighted that Pakistan possess
immense opportunities for investment in all
sectors of economy.
[35]
th
th
MAY 2011
Mr. Mohammad Younus Dagha, Secretary
Investment in his presentation highlighted Sindh as
a land of endless opportunities. He highlighted that
Pakistan is becoming Asia’s trade, energy and
transport corridor due to its strategic location and
position itself at the Centre of Asian growth. He
further brief regarding investment projects in
energy, transport, mines & minerals, urban
development and education.
The immense opportunities in Coal & Energy sector
was briefed by Secretary Coal in his presentation.
He presents immense investment potential of Coal
based energy generation in Pakistan and highlighted
the dependence of more than 41% of World Power
Generation fuel Mix on Coal compare with only
0.1% in Pakistan. He further suggested Coal as a
means to long term Energy Security for Pakistan.
Secretary Coal also invited Korean Investors to join
hands in the developing of Thar Coal reserves.
Secretary Fisheries highlighted that the Province of
Sindh possesses 71% of total marine resources of
the country along a 350 km long coast. He briefly
elaborated the project details for Development of
Brackish Water Aquaculture / Mariculture Park over
20,000 acres along the coast.
He invited Korean investors to indulge in technology
transfer and investment opportunities in the
Fisheries sectors.
Director General PPP Unit bring to light various
Projects through Public Private Partnership model.
He provided detailed financial overview, estimated
project costs along with detailed Project Plans of
PPP Unit Portfolio Projects offered by Government
of Sindh. He assured full support and assistance to
Korean investors who intend to invest in Pakistan.
The Seminar concluded with passionate response from Korean businessmen for setting up industries
in dedicated Korean Zone announced by Advisor to Chief Minister Sindh.
[36]
th
th
MAY 2011
MEMORANDUMS OF UNDERSTANDING
One of the major achievements during this visit was that SBI brought in various investors and
partners from local and international market under one roof, and was able to sign MOUs with
Korean companies for improving cooperation and bilateral trade between the Republic of Korea and
Pakistan.
Honourable Chief Minister Sindh, Syed Qaim Ali Shah, Mr. Saleem H. Mandviwala,
Chairman BOI, Mr. Muhammad Zubair Motiwala & Mr. Muhammad Younus Dagha,
Secretary Investments with KOSPO Team during High Level Meeting at Seoul, Korea
Honourable Chief Minister Sindh, Syed Qaim Ali Shah is presenting Memento to Korean
Southern Power Company
[37]
th
th
MAY 2011
SIGNING OF MEMORANDUM OF UNDERSTANDING WITH KOSPO
In order to overcome energy crisis, a MoU was signed with Korean Southern Power Company
(KOSPO) which is one of the six public sector power generation companies in Korea. MOU was
signed by Mr. Mohammad Younus Dagha, Secretary Investment and CEO of KOSPO. The Company
will establish Wind Power projects of 2000 MW in Gharo Keti Bandar Wind Corridor.
Honourable Chief Minister Sindh witnessed the signing of MOU with Korea Southern
Power Company
SIGNING OF MEMORANDUM OF UNDERSTANDING WITH KOIMA
The MoU was signed between Investment Department Government of Sindh and Korean Importers
Association (KOIMA) in order to boost export from the province of Sindh.
Mr. Mohammad Younus Dagha, Secretary Investment is signing an MoU with KOIMA
during B2B Session organised at Ramada Hotel, Seoul
[38]
th
th
MAY 2011
Mr. Mohammad Younus Dagha, Secretary Investment signed the MoU on behalf of Government of
Sindh while the Korean Importers Association was represented by their Chairman. The ceremony
was witnessed by Honourable Chief Minister Sindh Syed Qaim Ali Shah.
MoU with KOIMA will enable opening of Korean market for Pakistani goods as the present level of
trade is in favour of Korea.
Honourable Chief Minister Sindh witnessed the signing of MOU with KOIMA
[39]
th
th
MAY 2011
HIGH LEVEL MEETINGS
MEETING WITH KOREA CHAMBER OF COMMERCE & INDUSTRY
The Honourable Chief Minister Sindh, Syed Qaim Ali Shah also held a detailed meeting with Mr.
Sohn, Kyung – Shik, President of the Korea Chamber Commerce & Industry to discuss prospects of
Korean Investment in Pakistan especially in the province of Sindh.
The meeting was also attended by H.E. Mr. Choongjo Choi, Ambassador of Korea in Pakistan, H.E Mr.
Shaukat Mukaddam, Ambassador of Pakistan in Korea and Mr. Zubair Motiwala, Advisor to Chief
Minister Sindh on Investment.
MEETING WITH MINISTRY OF LAND & MARITIME AFFAIRS, THE
REPUBLIC OF KOREA
Successful meeting have been held with Ministry of Land Transport and Korea Rail for developing
Mass Transit System initially for Karachi and then replicating it to rest of the province.
Secretary Investment highlighted immense potential of improvement in Transport sector of Sindh.
He also highlighted various projects initiated by provincial and city governments in Sindh and invite
Korean experts to provide technological assistance to GoS in its endeavours to improve transport
sector infrastructure facilities in the Province.
MEETING WITH KOREA CHAMBER OF COMMERCE & INDUSTRY
Korea Chamber of Commerce & industry (KCCI) is the nation's largest private economic organization
that encompasses a total of 71 regional chambers and approximately 120,000 members from all
parts of the Korean economy. KCCI directed most of its activities toward coordinating government
policies and varied interests of commerce and industry, while making efforts to expand economic
cooperation with other countries on a private level.
This meeting with Chairman KCCI was reinforcement of KCCI efforts to increase cooperation with
other countries on private level. In this meeting, discussions were being made to enhance ties and
bilateral trade for market access to Pakistani goods.
[40]
th
th
MAY 2011
MEETING WITH KOSPO
In order to overcome energy crisis, a meeting with KOSPO which is one of the six public sector power
generation companies in Korea was organised; whereby the situation of energy crisis in Pakistan and
avenues for Korean cooperation to improve provision of electricity to masses was discussed.
During this meeting GoS and KOSPO signed a memorandum of understanding to establish Wind
Power projects of 2000 MW in Gharo Keti Bandar wind corridor was also signed.
MEETING WITH HYUNDAI HEAVY INDUSTRY
During the visit, a meeting with Hyundai Heavy Industry has been organised.
In that meeting, an understanding has been reached with Hyundai Heavy Industry for setting up
Wind Turbine Assembly Plant in Pakistan.
MEETING WITH POSCO
Private sector also has had a successful visit in terms of business.
A meeting with POSCO, which is the 3rd largest steel manufacturing company in the world has been
organised during honourable Chief Minister’s visit to Seoul. As a consequence, Al-Tuwairqi Steel
Mills is in advance stage for a joint venture with POSCO. The company also showed keen interest for
a project on 1000 MW Power generation from Thar Coal.
MEETING WITH LOTTE
Meeting with Lotte Group was also structured for Honourable Chief Minister Sindh and Investment
delegation.
[41]
th
th
MAY 2011
Lotte Group which has already invested in PTA plant in Pakistan assured to jack up their investment
by adding another USD 500 Million to double their existing plant capacity. They also showed great
confidence in the present Government’s investment friendly policies.
MEETING WITH KOREA TRADE & INVESTMENT PROMOTION AGENCY
(KOTRA)
KOTRA is the primary Trade & Investment Promotion Agency in Korea. Since its inception, KOTRA has
played an indispensable role to assist in growth and with Korea’s transformation into an exportdriven nation. The meeting was really fruitful to discuss areas of mutual cooperation and interest.
Government of Sindh really appreciates KOTRA’s efforts to organised Korea Overseas Investment
Fair 2011 to provide a platform to participating countries of the world to interact with Korean
investors particularly interested in overseas investment. Both agreed to improve cooperation and
coordination for future as well.
MEETING WITH HANGSUNG ENGINEERING COMPANY
During this meeting, detailed discussions were held regarding Steel Structures and Bridges. The
company showed keen interest in making investment in Pakistan especially in the Province of Sindh.
Hangsung Engineering Company is an expert on airports, bridges and steel structure have shown
keen desire to visit Pakistan and see the possibility to install a factory for steel bridges and
structures.
MEETING WITH AIR KOREA
During the meeting, discussions have been held with Air Korea for having direct flights from Pakistan
to South Korea.
MEETING WITH DOOSAN E & C
This company is leading Korea’s construction industry with advanced technology and outstanding
quality over the past 50 years. Meeting with Doosan E & C was really fruitful whereby construction,
housing and infrastructure projects were discussed.
MEETING WITH AIR SAMBU CONSTRUCTION & HEAVY ENGINEERING
COMPANY
Sambu, The legendary of Korea’s construction is operating since 1948 and is a representative
construction company that elevates the international stature of Korea. It has demonstrated
outstanding technologies in construction of major dams for harnessing the nations water resources,
roads, harbours, railroads, subways, bridges etc. In this meeting various construction projects
offered by Sindh government were discussed. Karachi Mass Transit Program that includes Rapid Rail
Transport System (RRTS), Bus Rapid Transport System (BRTS) was also discussed in detail.
Government of Sindh invited Sambu Construction to come invest in Pakistan.
[42]
th
th
MAY 2011
FEEDBACK FROM DELEGATION PARTICIPANTS
Synopsys of Feedback received from public & private sector participants of the delegation
is as follows.
“Received good contacts for new & untapped market”
“During this trip we had B2B meetings with the Korean counter parts, in which we had detailed
discussions on mutual trade, we got some samples from them in leather products and are
looking forward for a positive mutual trade.”
“We are aiming to achieve about USD 5 Million per year business volume”
“Contacts with Korean companies have been established”
“Strong Bonding with Korean friends has taken place.”
[43]
th
th
MAY 2011
CONCLUSION
The visit to Korea was highly productive and the aims and objectives of the visit have been met
successfully. The proactive steps taken to promote positive image of the Province of Sindh as an
attractive investment destination will definitely serve as a building block to strengthen the economic
ties between Republic of Korea and Pakistan with special focus on the Province of Sindh. This visit
also reinforces Pakistan and Korea’s already strong relationship and created opportunities for it to
develop further. The presence of Honourable Chief Minister Sindh as part & parcel of every activity
conveyed the message to Korean investors and public sector organizations that Government of
Sindh is primarily interested in enhancing Korean investment portfolio in Pakistan.
This delegation’s visit helped in showcasing Sindh’s investment potential to Korean investors & their
Public sector agencies. Korean investors were invited to come forward and make investment in
Sindh which is the heart of the economy of the Pakistan as a very significant presence of Korea in
Pakistan with more than 50 Korean companies in various sectors in Pakistan demonstrates Korean
confidence on profitability and good returns for capitalizing investment opportunities in Pakistan.
Through this visit, it was communicated that the people of Pakistan are looking forward to learn
from the Korean Expertise. Korean companies were also encouraged to transfer technology and
share their advancement with their Pakistani brothers because Pakistan produces abundant raw
material but due to lack of modern technology, it has not been able to achieve efficiencies in its
production stage.
Currently, Korean imports accounts for USD 425.212 billion whereby Pakistan’s share is only USD
399.661 million. The achievements gained through this visit will really be helpful in improving import
of goods of Pakistan to the Republic of Korea. Through this visit Korean market was explored and
Pakistan share of imports could easily enhanced that will ultimately improve balance of payments
between two nations.
The delegation’s visit program offered activities and events those were more focused and targeted
towards attracting Korean Investors. It provided up-to-date and valuable information regarding
Sindh province, its economy and competitive advantages, Investment opportunities available in
various sectors, investment projects launched by SBI and other government and private institutions.
The immense opportunities in priority sectors of economy namely Coal & Energy, Fisheries, Textiles
including Leather Garments and auxiliaries, Mass Transit, Construction and Tourism were properly
highlighted. During busy schedule of investment activities that includes Investment Seminar, B2B
meetings and participation in Korea Overseas Investment Fair the delegation got an opportunity to
explore a number of possibilities for economic cooperation between Government of Sindh and
Republic of Korea. The delegation received very warm response from Korean side and a lot of
interest was generated in various sectors of economy such as Construction & Engineering, Coal
Energy, Wind Energy, Steel Manufacturing, Fisheries and Textiles & Leather auxiliaries for increase
cooperation. The visit concluded with enthusiastic response from Korean businessmen for setting
up industries in Special Zones which would include renewable energy, recycling industry and
manufacturing plants.
[44]
th
th
MAY 2011
ANNEXURE I
PRESS COVERAGE
[45]

Post Delegation Visit Report June 21-2011

Transcription

Similar documents

Dear Friends and Family, Hi! How are you? I hope that this past year

An Introduction to the Investment Aftercare Division

The Significance of the Alternative Space As Seen through the

ALC2016 2차 안내서-Eng-Web - Asian Leadership Conference

Reflection - King Ling College

9d all in korea deluxe (jeju)

The Korean Wave and Cultural Exchanges

City of Onkaparinga

August, 2012 Newsletter - Korean Cultural Center New York