The Board of Investment (BOI) on Friday said the government would hold a roadshow in China, Germany and also including the world’s biggest economies in coming few months for increasing Pakistan’s Foreign Direct Investment. Through a new work plan, BIO would hold roadshows with the collaboration of chambers of industries and All Pakistan Textile Mills Association (APTMA) for focusing on textile and steel industry, said a Spokesman of Board of Investment (BOI) Shah Jahan while talking to APP.
He said that through a proactive approach, “We would mainly be focussing to achieve the FDI target US$ 15 billion by 2025”. He said that Pakistan’s Foreign Direct Investment (FDI) had increased by 12.4 percent in third quarter of the current fiscal year from 1st January to end of March.
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 also added the government is committed to provide ease of doing business for foreign investors and also global competitiveness for Multinational Companies (MNCs).
He 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 the world for improving in investment laws and providing facilities for doing business to foreign investors. Shah Jahan 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 in all four provinces of the country. Three each SEZs would be established in Punjab and Sindh and
one in Khyber Pakhtunkhwa, he added. Replying to a question, he said that nine more industrial zone had been approved for high-tech industry to enhance the export and employment opportunities in the country.
He said the SEZ Cell had been furnished in the contemporary corporate style and would be equipped with state-of-art facilities. He said that Pakistan had one of the most liberal foreign investment regimes in South Asia. The BOI was fully committed to reviving the confidence of businessmen from overseas to ultimately boost foreign investment in the country.
[…] comes in the top 10 nations in which foreign investors are willing to do business. This plus the roadshows that will aware of the world about business opportunities available in Pakistan would definitely […]