FDI recorded increase of 154 percent during months of July –Aug

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Islamabad, October 11, (APP):Foreign Direct Investment (FDI) recorded increase of
154 percent during the first two months of current financial year
2017-18 as compared to the corresponding period of last financial
years 2015-16.

During July-Aug 2017 period ,the net FDI inflow into the country is
US$ 457.2 million against $ 179.4 million during July- Aug 2016 and
over overall the power and communication sectors attracted the major
inward FDI, Additional Secretary and Spokesman of Board of Investment
(BOI) Shah Jahan Shah told APP here on Wednesday.

He said that Investment Facilities Center (IFCs) would also be
established in Karachi, Lahore, Islamabad and Peshawar to provide
modern facilities to investors.
SEZs investors would get the facility for plant and machinery import
without customs duty in all four provinces of the country.
The spokesman of BOI said that all steps would be taken for the
industrial growth in the country.
He suggested Pakistani investors should go for joint ventures with
foreign investors to learn the international best practices of
managerial skills and technology.
He said that Special Economic Zones would lead to create employment
opportunities and development in the area.

Replying to a question, the government is working on a plan for
reconstruction and modernization of Board of Investment (BOI) for
introducing the best international practices to provide conducive
environment for investment, he said.
In this regard, consultative committee had been formed, which consists
of senior officials of establishment division and BOI to review and
execute the reconstruction plan of BOI on modern lines,
He said according to plan, BOI wanted to hire experts to deal with
different sectors including legal, export, investment, Special
Economic Zones (SEZs) and marketing and branding experts to enhance
the capacity and modernization of the institution.
He said that experts for Special Economic Zones (SEZs) would be hired
for initiating the projects to attract investment and provide
conducive business environment.
He said, “We are committed to facilitate the foreign investors in
Special Economic Zones (SEZs).”
Three each SEZs would be established in Punjab, Sindh and one in
Khyber Pakhtunkhwa, he added.
The government has identified 46 economic zones throughout the country
in different regions. Seven of the economic zones are approved.
BOI spokesman said that nine prioritized industrial zones had been
proposed for high tech industry meant to enhance the export and
employment opportunities to the people in the country.