Reform in BOI to improve business environment, attract investors

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ISLAMABAD, Oct 2 (APP): The government is working on reform of
Board of Investment (BOI) to enhance ease of doing business and
provide conducive business environment for local and foreign
investors in Special Economic Zone (SEZs) of CPEC.
“Reconstruction and modernization of Board of Investment (BOI)
is top priority of the government as it will promote best
international business and investment practices and enhance
capacity,” Chairman consultative committee of reconstruction and
Spokesman of Board of Investment (BOI) Shah Jahan Shah told APP here
on Monday.
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.
He said that experts for Special Economic Zones (SEZs) would
be hired for initiating the projects to attract investment and
provide conducive business environment.
Replying to a question, he said that Investment Facilities
Centre (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.
The government has identified 46 economic zones through out
the country in different regions. Seven of the economic zones are
approved.
He said, “We are committed to facilitate the foreign investors
in Special Economic Zones (SEZs).”
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.
Three each SEZs would be established in Punjab, Sindh and
one in Khyber Pakhtunkhwa, he added.