Govt to provide equal opportunities to foreign, local investors in SEZs

ISLAMABAD: The Board of Investment (BOI) on Monday said the government would provide equal opportunities to foreign and local investors for setting up industries in Special Economic Zones (SEZs).

Pakistani investors should go for joint venture with foreign investors to learn the international best practices through managerial skills and technology, a Spokesman of Board of Investment (BOI) Shah Jahan told APP here on Monday.

He said that Special Economic Zones would lead to creation of population clusters and bring employment opportunities and development in areas near to the zones.

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

He said, "We are committed to facilitate the foreign investors for providing them modern facilities in 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.

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

He said that nine more Prioritized Special Economic Zones (PSEZs) would also be established in Punjab, Sindh, Khyber Pakhtunkhwa (KPK), Balochistan, Northern Areas and Federally Administered Tribal Areas (FATA).

BOI spokesman said that nine prioritized industrial zone have been proposed for high tech industry meant to enhance the export and employment opportunities to the people 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.

He said that through pro active approach, "We have mainly focused to achieve the FDI target of US$ 15 billions by 2025."

Shahjahan said that Pakistan's Foreign Direct Investment (FDI) had increased by 12.4 percent in third quarter of current fiscal year from January 1 to end of March, 2017.

The Board of Investment (BOI) said that huge foreign investment in automobile sector is expected from different groups because of the prudent policies of the government.

He said the government was committed to provide ease of doing business for foreign investors and also global competitiveness for multinational companies (MNCs).

Priority of BOI was to revive the confidence of foreign businessmen to ultimately boost foreign investment in the country, he added.