## 2024-08-08 19:41:55
Pakistani authorities are set to sign a memorandum of understanding with Danish container logistics group Maersk for a $2 billion investment.
As reported by Day.Az, The Express Tribune newspaper reported this, citing Minister of Maritime Affairs Qaiser Ahmed Sheikh.
“Maersk will start investing in various areas including infrastructure, terminals, warehouses, ship recycling, and so on from October 2024, which will transform Karachi into a transhipment hub,” the publication quotes the official as saying. “Karachi is undoubtedly the hub of Pakistan, which has excellent potential for increasing exports.”
Sheikh noted that his department is making “every effort to create favorable conditions” for investors.
“To encourage investment in the maritime sector, the government has abolished sales tax on products from processing plants, fish seed and feed. We are ready to provide land on which entrepreneurs can set up processing plants focused on maritime exports,” the minister said.