BOI achieves foreign investment target of $1.3 bln

651

ISLAMABAD, April 7 (APP): The Board of Investment (BOI) has
achieved $ 1.3 billion foreign investment target set for first three
quarters of current fiscal year.
The Board of Investment(BOI) has set total $2.7 billion target
for foreign investment for the year 2016-17,Spokesman of Board of
Investment (BOI) told APP here on Friday.
He said that seven Special Economic Zone (SEZ) cells had been
approved for facilitating the investors through one window operation
to provide them facility at one place.
The spokesman said that SEZs investors would get the facility
for plant and machinery import without customs duty and also 10
years tax holiday for investment by June 30, 2020.
He added that the investors who would invest in SEZs after
June 30, 2020 would get tax holidays for five years.
Replying to a question he said that 9 more industrial zone
have been approved for high tech industry to enhance the export and
employment opportunities in the country.
He said the Cell has been furnished on the contemporary
corporate style and will be equipped with state-of-art facilities.
The spokesman said that Joint Working Group (JWG) also formed
under Chairman BOI, Dr.Miftah Ismail for industrial collaboration.
Coca-Cola, he said is presently contemplating a further
US$ 200 million of green field investment, and expand Coca-Cola’s
production and distribution capacity in Pakistan in Faisalabad and
Islamabad regions.
The company has already invested US$ 500 million during this
year on the up-gradation of the existing plants in the country.
He further said that Coca-Cola intends preferably to
establish their units at Special Economic Zones (SEZ) in Pakistan.
The spokesman said that Pakistan has one of the most liberal
foreign investment regimes in South Asia.
The Board of Investment (BOI) is fully committed to reviving
the confidence of foreign businessmen to ultimately boost foreign
investment in the country.
He said that foreign investors were keen to invest in various
sectors of Pakistan.