BOI to create $50 billion FDI opportunities by 2023: Fareena

Observer Report

The Board of Investment (BOI) is actively pursuing strategies to create opportunities for $50 billion Foreign Direct Investment (FDI) in the country by 2023 under its new investment plan, an official of the board told APP.

“The BOI’s main priority is to attract investment in various sectors from big economies of the world, including United States and China and also to encourage overseas Pakistanis to invest in the country so that they can take advantage of these large investment opportunities,” Federal Secretary BOI, Ms Fareena Mazhar told APP in an exclusive interview here Sunday.

The Secretary said that investment opportunities would be created in different sectors of the economy including textile, Personal Protective Equipment (PPEs), agriculture, agro-industry, automobile sector, logistics and sports.

She said that Chinese companies have brought $ 260 million of investment in Rashakai, Special Economic Zone (SEZ) within the steel sector to enhance the productivity and growth in the local industrial sector.

The Chinese and local companies are ready to go for Joint Ventures and 60 local 13 Chinese companies in different sectors are registered and ready to sign the JVs agreement.

She informed that for achieving the agenda of bringing more Chinese investment in Pakistan, BOI has appointed eight honorary investment counselors in different potential regions of China.

“We appointed these people from business class and other related experiences and fields will play an essential role to update the Chinese business fraternity about potential Joint Ventures (JVs), other Investment opportunities and the rewarding incentives offered to foreign investors in Pakistan,” Fareena said.

She said that the appointments of these people are part of the government strategy to enhance Pakistan and Chinese investment for the economic growth of the country.

She said that Rashakai, Special Economic Zone (SEZ) would set a new direction for the modern industrialization in Pakistan and brings huge Foreign Direct Investment (FDI) in the country.

Through this milestone in the economic history of the country, the government wants to provide a conducive business environment for bringing Foreign Direct Investment (FDI) in the country, she said.

Fareena said that four Special Economic Zones (SEZs), including Rashakai Nowshera , Dhaba , Bostan and Allama Iqbal Industrial City, Faisalabad had also been approved and would be top priority of the government to develop these zones for creating the better business opportunity for foreign investment

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