Islamabad: Several Korean companies have expressed their interest to invest in the energy sector of Pakistan, a news source quoted Ambassador of South Korea to Pakistan Kwak Sung-Kyu as saying. The ambassador revealed this information during a meeting with Federal Minister for Energy Omar Ayub Khan.
Ayub informed the Korean envoy that many European, Chinese, and other companies were exploring options for setting up industries pertaining to renewable energy resources in Pakistan. He added that this development comes following the increased number of investment opportunities in the country.
The minister told the ambassador that Pakistan’s overall investor-friendly environment and good returns on the investments – especially within the energy sector – was appealing to entrepreneurs. He also extended an invitation to the Korean companies to benefit from the available opportunities.
Ayub also shared with Ambassador Sung-Kyu that Pakistan was looking forward and on-track towards converting its existing energy system into renewable sources up to 60%. He explained that government was working on policies in this regard, and the energy portfolio would also include hydel resources by 2030.
In response, the Korean envoy expressed his appreciation for the government’s many measures taken for improving the investment environment in the country.