Reorganisation of BoI ordered

Prime Minister Shaukat Aziz has said that the Board of Investment (BoI) will be reorganised and restructured to transform into a more vibrant organisation providing one-window operation for expeditious finalisation of local and foreign investment projects.
Chairing a meeting at the Prime Minister's House here on Tuesday, he took important decisions to further streamline the working of BoI.
He gave instructions for the re-organisation of BoI to make it a more focused organisation to encourage, promote and facilitate both domestic and foreign investments.
The Prime Minister said it is heartening to note that during the last four years the amount of foreign direct investment (FDI) increased about five times.
During the first nine months of current financial year, the country received $2.2 billion as FDI, which will lead to further growth, employment opportunities and over all economic uplift, he added.
Shaukat Aziz said that BoI should develop a marketing plan, which should dove-tail with the overall investment and reform strategy of the government, adding the marketing plan should clearly identify the potential areas of investment and the incentives provided by the government.
It should also identify 8-10 countries which should be generally focused. The plan should also identify specific countries for each potential area/industry.
The Prime Minister said that the marketing plan should also include a clear and comprehensive strategy to achieve the targets set, create awareness at local and foreign levels about the investment potential of Pakistan and to sell the investment potential of the country more effectively.
Noting that different parts of the world have different requirements, the Prime Minister asked BoI to develop geographical expertise. They should do research about the interests of investors in Pakistan and prepare country specific plans and policies to guide different categories of investors more effectively.
"BoI should study the peculiarities of major countries to work as an effective organisation", said Shaukat Aziz.
The Prime Minister asked BoI to consistently guide the foreign missions, federal and provincial government departments about the investment policies and potential areas of investment.
He identified IT and telecom, real estate, engineering, construction business, agri-business and manufacturing as the major potential areas for investment.
The Prime Minister also asked BoI to focus more on preparation of promotional and marketing material for the guidance and facilitation of potential investors.
He said the existing facilities at various offices of BoI will be upgraded and modernised.
The meeting was attended among others by Federal Minister for Privatisation and Investment Zahid Hamid, Minister of State for Privatisation and Investment Umar Ahmad Ghuman and senior officials.