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BOI committed to provide ease of doing business in SEZs

BOI committed to provide ease of doing business in SEZs

ISLAMABAD: The Board of Investment (BOI) is prioritzing to provide ease of doing business for enhancing the industrial cooperation with foreign countries in Special Economic Zones (SEZs).

“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” a Spokesman of Board of Investment (BOI) Shah Jahan said.

BOI is working on reform agenda for smart regulation for providing conducive environment for investors in the country, he said.

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

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

He suggested Pakistani investors should go for joint venture with foreign investors to learn the international best practices of managerial skills and technology.

He said that Special Economic Zones would lead to create employment opportunities and development in the area.  Replying to a question 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 land required to develop 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 through out 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 for plant and machinery import 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.

He said the SEZ Cell had been furnished on the contemporary corporate style and would be equipped with state-of-art facilities.