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Chinese delegation led by Chairman, Shenzhen Domhke Group visited (BOI)


5/9/2017

Prime Minister’s Office
Board of Investment
(Media Section)
*******

Spokesperson
 
PRESS RELEASE
 
Islamabad 9th May, 2017:   A Chinese  delegation led by Mr. Fang Song Bin, Chairman, Shenzhen Domhke Group Co Ltd  visited Board of Investment (BOI) and met with  Mr. Shah Jahan Shah, Additional Secretary, BOI. The delegation comprising of the different sectors including Auto Sector, Hilal Meat & Solar system etc. The leader of the delegation appreciated efforts of BOI, facilitating their visit to Pakistan. 
 
The Additional Secretary welcomed the Chinese delegation, explained about general investment climate of Pakistan and highlighted importance of Chinese investment in Pakistan.
The delegation was given a detailed briefing about Pakistan investment policy, different investment opportunities in Pakistan through documentary.
Mr. Shah Jahan Shah Additional Secretary, BOI encouraged Chinese side for their visit to Pakistan. He emphasized on the Automotive Development Policy (2016-2021). He also added that the new Automotive Development Policy 2016-2021 has been approved by the ECC in its meeting held on March 18, 2016. The main objectives are as under:-
1. Facilitate higher volume, more investment, enhanced completion and better quality with latest technology.
2. Creating a balance between industrial growth and tariffs to ensure sustainability of stakeholders. 
3. Ensuring consumer welfare.
4. Providing policy consistency and predictability for investors and mid-term review to cater for emerging developments. 
He further added that there are two kinds of investment categories. The first one is Greenfield Investment and the second one is Brownfield Investment. According to Greenfield Investment the installation of new and independent automotive assembly and manufacturing facilities by an investor for the production of vehicles of a make not already being assembled/manufactured in Pakistan. In this category investor shall be entitled to the following incentives:-
1. Duty free import of plant and machinery for setting up the assembly and / or manufacturing facility on a one time basis.
2. Import of 100 vehicle of the same variant in CBU form at 50% of the prevailing duty for test marketing after ground breaking of the project.
3. Concession rate of custom duty at 10% on non-localized parts and at 25% on localize parts for a period of 5 years for the manufacturing of cars and LCVs.  
According to Brownfield Investment revival of an existing assembly and/or manufacturing facilities, that is non-operational or closed on or before July 01, 2013 and the make is not in production in Pakistan since that date and that the revival is undertaken either independently by original owners or new investors or under joint venture agreement with foreign principal or by foreign principal independently through purchase of plant. In this category investor shall be entitled to the following incentives:-
4. Import of non-localized parts at 10 percent rate of customs duty and localized parts at 25 percent duty for a period of three years for the manufacturing of Cars and LCVs, and 
5. Import of all parts (both localized and non-localized) at prevailing customs duty applicable to non-localized parts for manufacturing of trucks, buses and prime-movers for a period of three years.
After detail briefing the Chinese side shared their information regarding their land which have already been purchased and located in Lahore for the purpose of this project.  They show keen interest in initiating operations in Pakistan regarding Automobile,  Hilal meat and Solar system.       
At the end Additional Secretary, BOI, appreciated Chinese delegation for visiting Pakistan and BOI to further strengthen the trade & investment ties between the two brotherly countries. He assured the delegation of full support as and when needed.
 
(SHAH JAHAN SHAH)
Additional Secretary / Spokesperson, BOI