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BoI focusing on four SEZs completion in six months: Chairman

ISLAMABAD: Board of Investment (BoI) Chairman Haroon Sharif Wednesday said the investment board was fully concentrating to complete four Special Economic Zones (SEZS) related to China Pakistan Economic Corridor (CPEC) within six months.
These CPEC related SEZs had been established in all four provinces including Rashakai Economic Zone (Khyber Pakhtunkhwa), Dhabeji (Sindh), Allama Iqbal industrial city Faisalabad (Punjab) and Bostan Indusrial Zone (Balochistan), he said while talking to APP.
Replying to a question regarding Rashakai Economic Zone, he said recently a delegation of China Road and Bridge Cooperation (CRBC), led by Director Shi Xiaobo had visited BoI to discuss the time lines to make it operational.
He said the Rashakai had a strategic significance as it was closer to Afghanistan and central Asian countries.
Discussing the importance of Rashakai, he said Chinese had termed it as a role model project for other SEZs.
He said Rashakai was Joint venture between the Chinese company CRBC and Khyber Pakhtunkhwa provincial government to provide the facility of ease of doing business.
The BoI was strengthening its capacity to have specific desks and teams to deal with investors from different countries, as well as to work on important assignments, including all SEZs, Haroon said.
He said during the meeting the CRBC delegation discussed incentive packages for the Rashakai Economic Zone for providing more modern and hi-tech facilities to the investors.
Replying to another question, he said all seven proposed SEZs would be completed in coming two years for promoting ease of doing business and to facilitate the local and foreign investors. He said, “we will need to acquire 5,000 acres industrial land to complete all SEZs in the country for generating equal business opportunities in all regions.”
Replying to a question, he said SEZ in Hattar was also the priority of BoI, and informed that electricity issue halted the completion of economic zones and matters related to the electricity had been resolved from March 27, this year.
To a query regarding SEZ in Islamabad, he said engineering or information technology zones was in process and BoI had a plan to establish hi-tech zone in the federal capital.
He said the SEZ in capital city would be finalised in coming two week to initiate this project for completing in given time frame.
He said the BoI would initiate this project and we would on the priority of government to complete this project within the given time frame for increasing business and investment opportunities and to generate maximum employment opportunities.
Replying to a question on the restoration of BoI, he said he was committed for enhancing the capacity of the institution. In this regards 12 units had been evolved for research and specialized approach to search the investment opportunities from different regions of the world. He said the BoI was now focusing on ease of doing business, SEZs with China, foreign direct investment and policy reforms.
Therefore, housing and tourism units were also being established for enhancing investment in these potential sectors, he maintained.—DNA

BoI to actualize shared goal of industrial cooperation for shared prosperity under CPEC: Chairman

ISLAMABAD:Board of Investment (BoI) Chairman Haroon Sharif Wednesday said the investment board would ensure all out efforts to actualize shared goal of industrial cooperation for shared prosperity under China Pakistan Economic Corridor.
He expressed these views while briefing Chinese Ambassador Yao Jing and investors during a visit to the newly established BoI Project Management Unit here.
BoI Secretary Omer Rasul, Additional Secretary Muhammad Saleem Ahmad Ranjha and Executive Director General Fareena Mazhar were also present on the occasion, a press release said.
The BoI chairman said a revitalization plan for the existing seven special economic zone has been finalized wherein missing facilities including utilities would be provided in the coming six months to ensure utilization of around 1,500 acres land here would be brought under utilization.
He further informed that apart from Asian economies, Korea, Japan and Malaysia have shown keen interest to invest in Pakistan and the newly established Project Management Unit (PMU) under the BoI will ensure maximum facilitation to the investors.
Chinese Ambassador to Pakistan Yao Jing appreciated BoI’s initiative of establishing a specialized PMU for industrial cooperation and investor facilitation.
The China and Pakistan’s joint projects are open to world as well, he added.
The BoI secretary introduced the officers of the PMU who are to facilitate the Chinese as well as foreign investors from Pakistan to the Chinese delegation.
Executive Director General, Fareena Mazhar, informed the delegation regarding the objectives of the PMU.
She said its core objective is to provide secretariat support to the BoI and effectively facilitation investors.
Fareena said this newly established unit in BoI is assigned the task to perform the role of a coordinating body for collecting and disseminating the technical and other necessary information amongst all concerned stakeholders and keep intervening in the planning and development of state-of-the-art special economic, export processing and industrial zones across the country.

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