BOI committed for facilitating foreign investors in SEZs

1830

ISLAMABAD, May 5 (APP):The Board of Investment (BOI) is
committed to facilitate the foreign investors for providing them
modern facilities in Special Economic Zones (SEZs).
SEZs investors would get the facility for plant and machinery
import without customs duty in all four provinces of the country.
Three each three SEZs would be established in Punjab and
Sindh and one in Khyber Paktunkwa,said a Spokesman of Board of
Investment (BOI) Shah Jahan told APP here on Friday.
The Board of Investment (BOI) has said that seven Special
Economic Zones (SEZs) was approved by the government for
facilitating and attracting the investors through one window
operation.
He said that nine more Prioritized Special Economic Zones
(SEZs) would also be established in Punjab, Sindh, Khyber Paktunkhwa
(KPK), Balohistan, Northern Areas and Federally Administrated Tribal
Areas (FATA).
He said that nine prioritized industrial zone proposed for
high tech industry meant to enhance the export and employment
opportunities to the people in the country.
He said the SEZ Cell had been furnished on the contemporary
corporate style and would be equipped with state-of-art facilities.
He said the government would hold road shows in
China,Italy,Singapore, United Kingdom and United States (UK)
including all big economies in coming few months for increasing
Pakistan’s Foreign Direct Investment.
Through new work plan,BIO would hold road shows in
collaboration with chambers of Commerce and industries and All
Pakistan Textile Mills Association (APTMA) for focusing on textile
and steel industry.
He said that through pro-active approach,”We have mainly
focussing to achieve the FDI target of US$ 15 billions by 2025.
He said that Pakistan’s Foreign Direct Investment (FDI) had
increased by 12.4 percent in third quarter of current fiscal year
from January 1 to end of March, 2017.
The Board of Investment (BOI) said that huge foreign
investment in automobile sector would be expected from different
groups because of the prudent policies of the government.
The spokesman said that foreign investors were keen to invest
in various sectors of Pakistan.
He said the government is committed to provide ease of doing
business for foreign investors and also global competitiveness for
Multinational Companies (MNCs).
Shah Jahan said that BOI had digitalized visa process for
foreign investors and now the investors could apply online for
business visa from anywhere and they would be responded in very
short period of time.
The duration of visa process had now been reduced from six
months to weeks subject to the verification from different
agencies,he added.
Spokesman of BOI said, “We have also transformed the liaison
and branch office from manual to online to facilitate the investors.
He informed that Pakistan was in top 10 countries in world for
improving in investment laws and providing facilities for doing
business to foreign investors.
He said that Pakistan had one of the most liberal foreign
investment regimes in South Asia.
Priority of BOI was to reviving the confidence of foreign
businessmen to ultimately boost foreign investment in the country.