Pakistan Offers Portugal Major Investment Opportunities in the Olive Sector
Lisbon / Islamabad — Pakistan has formally offered Portugal extensive investment opportunities in its rapidly expanding olive sector and value chain. The proposal was presented by Federal Minister for National Food Security and Research Rana Tanveer Hussain during a meeting with Portugal's Minister of Agriculture and Maritime Affairs, José Manuel Fernandes, in Lisbon.
During the meeting, Rana Tanveer Hussain informed his Portuguese counterpart that Pakistan has successfully cultivated more than 7 million olive trees across 55,669 acres under its sustainable agriculture program. He invited Portuguese companies to establish joint ventures in modern olive cultivation, processing, and the production of value-added olive products.
Special Incentives for Foreign Investors
To encourage Portuguese investment, the minister highlighted several incentives offered by the Government of Pakistan:
- 100% Foreign Ownership: Foreign companies are allowed to establish businesses in Pakistan with full ownership.
- Tax Incentives: Special tax concessions are available for olive processing and the import of agricultural technologies.
- One-Window Facilitation: Investors can benefit from streamlined one-window services to simplify investment procedures.
- International Standards: Pakistan reaffirmed its commitment to developing its olive industry in accordance with the standards of the International Olive Council (IOC).
Portugal's agriculture minister praised Pakistan's remarkable progress in the olive industry, describing the country as an emerging destination for sustainable agricultural investment, and expressed strong interest in expanding bilateral cooperation.
Cooperation in Technology and Climate-Smart Agriculture
Both countries agreed to strengthen cooperation in agricultural research, technology transfer, and workforce development. They also discussed collaboration in climate-smart agriculture, efficient water management, drip irrigation, sustainable land management, and mechanized harvesting.
Federal Minister Rana Tanveer Hussain also extended an official invitation to Portugal's Minister of Agriculture to visit Pakistan.