The Board of Investment (BOI) is committed to facilitating the foreign investors for providing them modern facilities in the 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.
Punjab and Sindh will house three SEZs each, while in Khyber Pakhtunkhwa one SEZ would be established, said BOI spokesman Shah Jahan told the agency.
The BOI has said that seven Special Economic Zones (SEZs) were 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 Pakhtunkhwa (KPK), Balochistan, Northern Areas and Federally Administrated Tribal Areas (FATA).
He said that nine prioritised industrial zone proposed for high-tech industry are meant to enhance the exports and employment opportunities to people. He said the SEZ Cell had been furnished in the contemporary corporate style and would be equipped with state-of-art facilities.
He said the government would hold roadshows 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 roadshows in collaboration with chambers of commerce, industries and All Pakistan Textile Mills Association (APTMA) with a focus on textile and steel industry.
He said that through pro-active approach, “We would achieve the FDI target of US$ 15 billion by 2025.”
He said that Pakistan’s Foreign Direct Investment (FDI) had increased by 12.4 per cent in third quarter of the current fiscal year from January 1 to end of March 2017.
The board said that huge foreign investment in automobile sector would be expected from different groups because of the prudent policies of the government.
He said the government is committed to providing ease of doing business for foreign investors and also global competitiveness for Multinational Companies (MNCs).
Shah Jahan said that BOI had digitalised visa process for foreign investors and now the investors could apply online for a 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.
The spokesman said, “We have also transformed the liaison and branch office from manual to online to facilitate the investors.” He also 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.
