Pakistan will sign investment treaties with United States and Canada this year, which will go a long way to bolster the country’s exports, Board of Investment (BOI) Chairman Saleem H Mandviwala has said.
To another question, he said the recently-passed Special Economic Zones (SEZ) bill was a milestone in the history of Pakistan. “Some of the investor countries like Korea, China and Japan were expecting to benefit from the scheme as soon as it became operational,” he claimed. He said provincial governments would be requested to start the process as soon as rules were framed.
He further said that the SEZ bill will help create industrial clusters with liberal incentives, infrastructure and investor facilitation services to enhance productivity and reduce cost of doing business.
“The SEZ bill also guarantees that the incentives, once granted, will not be withdrawn due to conflict of interests. The BOI will now move ahead at a faster pace and through a well-planned campaign, motivating local and foreign investors to invest in the country,” he said; adding that the bill will not only help in bringing in new technologies, but also provide jobs to the people and increase exports to reduce the trade deficit.
Published in The Express Tribune, July 23rd, 2012.