ISLAMABAD: Priority of the Board of Investment is (BOI) to brand Pakistan as entrepreneur future country by introducing innovations and modern industrial concepts on Special Economic Zones (SEZs) and Priority Economic Zones (PEZs).
“Pakistan offers tremendous opportunities for investors in making investments in various sectors of the economy including Special Economic Zones (SEZs) under the game changer project of China Pakistan Economic Corridor (CPEC), textile, energy, agriculture, health, education and other sectors due to conducive business environment being offered in the country, Senior official of BOI told APP here on Tuesday.
He said the top priority of his organisation was to make Pakistan as a prime destination for foreign and local investors by providing them level playing fields, besides making pro-investments policies.
The official said, “We will work towards catalysing investments into priority areas that will fundamentally enable a happier life for its citizens, especially sectors where technology can play a disruptive role, like in education, healthcare, energy and agriculture.
Replying to a question, he said BOI wanted to introduce aggressive marketing plan for providing facilities offered in SEZs in the shape of one stop shop in order to ease of doing business in the country.
He said, “our vision is to promote and enable Pakistan as an attractive investment destination.”
He said Pakistan had the opportunity to expedite the development cycle because of the technology revolution and entrepreneurship.
The BOI was committed to smart regulation, simplified procedure and competitive costs in consultation with the ministry of finance and related institutions for providing facilities in SEZs, he said.
Replying to another question, he said that BOI was working on reform agenda for smart regulation for providing a conducive business environment for investors in the country.
The official said through these reforms, industrialisation would promote and maintain trade balance in the country.
After the business activities in SEZs, employment opportunities and export to foreign countries would be increased, he said.
He suggested that the Pakistani investors should go for joint ventures with foreign investors to learn the international best practices of managerial skills and technology.
He said National Industrial Parks (NIP) a development and a management company would develop the planned Special Economic Zone (SEZ) in Islamabad.
He said around 50-acre lands was required for developing Special Economic Zones (SEZ) in the federal capital for providing equal opportunity and facilities to foreign and local investors.
While appreciating the establishing the SEZ in Mirpur (AK), care should be taken that instead of setting up industrial units in the hapazard manner as was done in the industrial Estate( Mirpur) during seventy /eighty decades, resulting economically very marginal usefulness of that industrial estate. Therefore, it would be in the fitness of things that specific sector be selected and all units be set up, specializing by remaining with in that very sector catering primarily exports. For example, textile garments manufacturing and exports be selected and all units be set up, engaging skilled workers from Faisalabad, Karachi in the initial stage and along local work force be trained and engaged. BanglaDesh with no own cotton is one of the largest exporter of cotton related products i.e garments and made ups.Their entire economy is made sustainable on this one item, providing employment to million local work force.