Priority of BOI to make Pakistan as prime destination to foreign, local investors

ISLAMABAD: Newly appointed Chainman of Board of Investment (BOI) Naeem Y Zamindar said on Wednesday said that the top priority of his organization was to make Pakistan as prime destination for foreign and local investors by providing them level playing fields, besides making pro- investments policies .

"Pakistan offers tremendous opportunities for investors in making investments in various sector of 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, said Chairman BOI in an exclusive interview after assuming charge of his office here today.

Chairman BOI said,”I will work towards catalyzing 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.

“We want to brand Pakistan as entrepreneur future country by introducing innovations and modern industrial concepts on SEZs and Priories Economic Zones (PEZs), Chairman BOI said.

Replying to a question, he said that BOI wanted to introduce aggressive marketing plan for providing facilities offered in SEZs in shape one stop shop in order to ease of doing business in the country.

He said that “my vision is to promote and enable Pakistan as an attractive investment destination. ”I strongly believe that Pakistan has the opportunity to expedite the development cycle because of the technology revolution and entrepreneurship”. he said.

“We are committed for smart regulation, simplified procedure and competitive costs in consultation with ministry of finance and related institutions for providing facilities in SEZs” he said.

Replying to another question, he said that BOI is working on reform agenda for smart regulation for providing conducive business environment for investors in the country.

Naeem said that through these reforms, industrialization would promote and maintain trade balance in the country, BOI chairman said.

After the business activities in SEZs, employment opportunities and export to foreign countries would be increased, he said.

Chairman BOI suggested 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 that around 50 acre lands required for developing Special Economic Zones (SEZ) in the federal capital for providing equal opportunity and facilities to foreign and local investors.

The government has identified 46 economic zones throughout the country in different regions including seven approved zones, he said.

He said, “We are committed to facilitate the foreign investors in Special Economic Zones (SEZs).”

SEZs investors would get the facility of importing plant and machinery without customs duty in all four provinces of the country.

Three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa, he added.