Press Releases

01
January 1970

Telenor an example for foreign investors: Zahid Hamid

Kuala Lumpur Tuesday - May 29, 2007: Federal Minister for Privatization & Investment Zahid Hamid has called Telenors investment in Pakistan an example for investors to follow? He was speaking at the 3rd World Islamic Economic Forum (WIEF) 2007 in Malaysia. Telenor is a platinum sponsor of the forum whose central theme is Global Challenges and Muslim Leadership in a Globalised World.

Sheikh Nasser Al-Mohamad Al Sabah, Prime Minister of Kuwait and Shiekh Saud Bin Saqr Al Qasmi, Crown Prince and Deputy Ruler, Ras Alkhaimah Emirate, UAE and Dato Sri Dr. Mohd Effendi Norwani and Federal Minister for Privatization & Investment Zahid Hamid on behalf of Prime Minister Shaukat Aziz addressed the leadership keynote panel at the Forum.

In the keynote leadership panel address of Prime Minister Shaukat Aziz, which was read out to the audience by Hamid as the leader of the Pakistani delegation, the Prime Minister said, The Muslim world possesses formidable assets. It has the necessary intellectual and material resources to overcome the challenges before us. At this critical juncture, it is the responsibility of the leadership in the Muslim world to provide a sense of purpose and direction and leverage our collective resources for this purpose. We need a plan of action or a roadmap to make this possible.?

Zahid Hamid held separate meetings with the top business leaders of various potential investment groups who are keen to invest in Pakistan. Telenor Pakistans flourishing business and its household recognition in Pakistan are a testimony of the fact that the market is open and conducive for major investments? said the Federal Minister at the Malaysia-Pakistan Business Forum.

Deputy CEO of Telenor and Head of Asia Region Arve Johansen in his address to the Forum, titled Telenors successful investment in Pakistan said: "Telenor operates in three of the major Muslim countries of the world. And as with the World Islamic Economic Forum in Islamabad last year, we find it both natural and beneficial to meet business and government contacts at this third session."

Highlighting Telenors recent achievements in Pakistan, he added: With around USD1 billion investment to date, Telenor Pakistan has increased its market share tremendously. This growth has been facilitated by the immense business opportunities Pakistan has to offer along with access to a large, young, educated and skilled work force. It is the liberal and transparent Government policies characterized by a level playing field that have brought significant foreign investments.?

Talking about Telenors sponsorship of the forum, CEO Telenor Pakistan Tore Johnsen said, Telenor is deeply involved in attracting investors to Pakistan and other Asian markets and the 3rd World Islamic Economic Forum (WIEF) 2007 serves that purpose well.?

World Islamic Economic Forum Foundation is an international organization built on the fundamental premise that the key to meaningful civilizational alliance is through amicable economic cooperation and business partnership.

The Telenor group is an international provider of high quality tele-communications, data and media communications services. Telenor ranks as one of the biggest GSM service providers in the world with over 123 million subscribers. Telenor Pakistan is 100% owned by Telenor ASA and adds on to its operations in Asia together with Thailand, Malaysia and Bangladesh.

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