Chaudhary Salik participates in D-8 Investment Conference in Istanbul

ISLAMABAD: Federal Minister for Board of Investment (BOI) and Special Initiative, Chaudhary Salik Hussain, and Secretary BOI Fareena Mazhar in Istanbul participated in the D-8 Investment Conference held on Thursday, on the occasion of the 25th anniversary of the D-8 Organisation.

“I am happy to state that Pakistan’s agriculture sector, being the backbone of our economy, posted a growth of 4.4 percent in FY2022 owing to a 6.6 percent growth in crops and 3.3 percent increase in livestock production. The Government of Pakistan is focusing on providing special relief in taxes and duties on different agricultural equipment and machinery. I invite the D-8 Nations to join hands with Pakistan and work together to make the D-8 alliance food secure and an agriculturally surplus country,” the Minister for BOI expressed these views while addressing the D-8 Investment Forum.

The minister interacted with the delegates from the Developing eight countries and welcomed them to explore the immense investment, especially in Pakistan’s special economic zones.

“The Government of Pakistan is working with a vision to transform Pakistan into a high-end commercial, technology and manufacturing hub,” the minister for the BOI underscored.

Secretary BOI Mazhar delivered a detailed presentation and apprised the audience at the D-8 Investment Forum regarding Pakistan’s latest business reforms’ initiatives to improve the ease of doing business. “Pakistan has also seen an incredible improvement in its security situation and has conducted notable regulatory reforms which have been recognized globally by the World Trade Organisation, the World Economic Forum, and the World Bank of Pakistan,” she stated.

The BOI secretary invited the businessmen to explore investment opportunities in Pakistan in multiple sectors, accentuated that owing to Pakistan’s strategic location, the country provides access to three continents and 68 countries as it is being connected to the broader plan of the Belt and Road Initiative (BRI) through the China-Pakistan Economic Corridor (CPEC).

A day earlier, the minister and the secretary BOI also held a meeting with DEiK and the Turkish business community.

The minister BOI assured regarding the government’s resolve and commitment to facilitate businesses and investors in Pakistan.

“The Government of Pakistan is working with a vision to transform Pakistan into a high-end commercial, technology and manufacturing hub,” the minister emphasized.

The D-8 is a global arrangement (Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan, and Turkey), as the composition of its members reflects. It was established with the objective of economic cooperation to improve member states’ position in the global economy, diversify and create new opportunities in trade relations, besides enhancing participation in decision-making at the international level. 16th June 2022 marks the silver jubilee of the organization and the minister and secretary for the BOI also participated in the silver jubilee reception in Istanbul.

Copyright Business Recorder, 2022