The Board of Investment (BoI) has said that the government would hold roadshows in China, Singapore and the Gulf countries in the next few months, aiming at increasing Pakistan’s Foreign Direct Investment (FDI).
Under its new work plan, BoI would hold roadshows in collaboration with chambers of industries and All Pakistan Textile Mills Association (APTMA) for focusing on textile and steel industry, said a Spokesman of the Board of Investment (BoI) Shah Jahan while talking to APP here.
He said that through pro-active approach, we have mainly focussed on achieving the FDI target 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 1st January till the end of March.
The Board of Investment (BoI) said that huge foreign investment in the 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 providing ease of doing business for foreign investors and also global competitiveness for Multinational Companies (MNCs).
He said that BoI had digitalised the visa process for foreign investors and now the investors could apply online for a business visa from anywhere and they would be responded to in a very short period of time.
The duration of the 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 the top 10 countries in the world for improving in investment laws and providing facilities for doing business to foreign investors.
Shah Jhan 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 the 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 zones 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 on the contemporary corporate style and would be equipped with state-of-art facilities.
