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FDI target set at $15 billion by 2025


7/8/2017

ISLAMABAD: The Board of Investment (BoI) has said that the government would hold roadshows in Germany, China and the United Arab Emirates (UAE) as it looks to increase Pakistan’s Foreign Direct Investment (FDI).

Pakistan has received low levels of FDI in recent years, with economists saying that the trend is likely to pose severe challenges and could result in another balance of payments crisis.
 
However, holding road shows with the collaboration of chambers of industries and All Pakistan Textile Mills Association (Aptma) could help ease the situation, said BoI spokesman Shah Jahan.
“We are focused on achieving the FDI target of $15 billion by 2025.”
 
FDI for the entire fiscal year currently hovers around the $2-billion mark, but the number is expected to go up significantly in the wake of projects under the China-Pakistan Economic Corridor. With the economy set to pick pace, the government believes that it would have an effect on other sectors as well.
 
Huge foreign investment in the automobile sector would be expected from different groups because of the prudent policies of the government, said BoI.
 
The spokesman added that the government is committed to facilitating ease of doing business for foreign investors and also global competitiveness for Multinational Companies (MNCs).
 
He said that BoI had digitalised the visa process for foreign investors. “We have also transformed the liaison and branch office from manual to online to facilitate investors,” Shah Jahan added.
 
He said that Pakistan was in the top 10 countries in the world that had shown improvement in investment laws and facilitation of foreign investors.
 
He said that seven Special Economic Zone (SEZ) cells had been approved for facilitating the investors through one-window operation to provide them facility at one place.
 
The spokesman said that SEZs investors would get the facility for plant and machinery import without customs duty in all four provinces of the country. Three SEZs would be established each in Punjab and Sindh and one in Khyber-Pakhtunkwa, he added.
 
Responding to a question, he said that nine more industrial zones had been approved for high-tech industry to enhance the export and employment opportunities in the country.