Seven SEZ approves for facilitating foreign investors:Spokesman BOI

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ISLAMABAD, April 25 (APP):The Board of Investment (BOI) on
Tuesday said that seven Special Economic Zones (SEZs) was approved by the government for facilitating and attracting the investors through one window operation.
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 Tuesday.
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.
The spokesman said that SEZs investors would get the facility for plant and machinery
import without customs duty in all four provinces of the country.
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.
The BOI was fully committed to reviving the confidence of foreign businessmen to
ultimately boost foreign investment in the country.
He said that Pakistan had one of the most liberal foreign investment regimes in South
Asia.