Govt committed to implement reform agenda in BOI

ISLAMABAD: The government is committed to implement reform agenda in Board of Investment (BoI) for ensuring ease of doing business for local and international investor in the country.

"BOI is working with World Bank and other organizations to initiate training programs for staff, aimed at enabling them to provide conducive environment for investment in the country," Secretary BOI Samaira Nazir Siddiqui told APP here on Tuesday.

“We require around 50 acre land to develop Special Economic Zones (SEZ) in the federal capital for providing equal opportunities and facilities to foreign and local investors," she said.

Secretary BOI said that National Industrial Parks (NIP), a development and a management company, is all set to develop the planned Special Economic Zone (SEZ) in Islamabad.

Replying to a question, she said the government was working on a plan for reconstruction and modernization of BOI to introduce the best international practices to provide conducive environment for investment.

According to plan, BOI wants to hire experts to deal with different sectors including legal, export, investment, SEZs and marketing and branding experts to enhance the capacity and modernization of the institution, she said.

Samaira said that experts for SEZs would be hired for initiating the projects to attract investment and providing conducive business environment.

Replying to another question, she said that Investment Facilities Center (IFCs) would also be established in Karachi, Lahore, Islamabad and Peshawar to provide modern facilities to investors.

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

She said that all steps would be taken for the industrial growth in the country. Secretary BOI suggested that Pakistani investors should go for joint ventures with foreign investors to learn the international best practices of managerial skills and technology.

He said that SEZs would lead to create employment opportunities and development in the area.

The government has identified 46 economic zones through out the country in different regions and out of them seven have already been approved which have been included in China Pakistan Economic Corridor (CPEC).