ISLAMABAD, Aug 29: The Board of Investment (BOI) has simplified and shortened the new companies' registration process for facilitating the local and foreign investors to enhance the foreign investors.
“We have introduced and implement the new laws for ease of doing business to provide conducive business environment for investors,” a senior official of BOI told APP here on Wednesday.
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.
“We require around 50 acres land to develop Special Economic Zones (SEZ) in the federal capital for providing equal opportunity and facilities to foreign and local investors,” he said.
The Board of Investment (BOI) said three SEZs had become operational in the country and started production while remaining six zones would be rationalized by June, 2019.
Special Economic Zones in Faisalabad, Haripur (Hattar) and Karachi sold their land and operational for production for last three months.
He suggested that Pakistani investors should go for joint venture with foreign investors to learn the international best 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 Special and Prioritize zones across the country in different regions including seven approved Prioritize zones, he added.
He said, “We are committed to facilitate the foreign investors in SEZs.”
The SEZs investors will get the facility for plant and machinery import without customs duty throughout the country.
Three each SEZs would be established in Punjab, Sindh and one in Khyber Pakhtunkhwa, he added.
Replying to an other question, he said that nine more Prioritized Special Economic Zones (PSEZs) would also be established in Punjab, Sindh, Khyber Pakhtunkhwa, Balochistan, Northern Areas and Federally Administered Tribal Areas.
The official said that nine prioritized industrial zone have been proposed for high tech industry meant to enhance the export and employment opportunities to people in the country.