Board of Investment (BoI) Chairman Naeem Y Zamindar Monday said that efforts were well on the way to make Pakistan a key destination for foreign and local investment.
Talking to Lahore Chamber of Commerce and Industry (LCCI) Senior Vice President Khawaja Khawar Rashid, Vice President Zeshan Khalil and Executive Committee Members here at Lahore Chamber, he said that foreign direct investment was increasing gradually and a target of $3.7 billion had been set for the current year.
Zamindar said that Pakistan had lucrative opportunities for both foreign and local investors in various sectors of economy including textile, energy, agriculture, health, education and others. Special attention was being given to Special Economic Zones (SEZs) under the game changer project of China-Pakistan Economic Corridor (CPEC), as volume of Chinese economy was expected to be $ 30 trillion within the next 25 years and Pakistan could grab huge benefits as economies of both countries were going to be merged under CPEC, he maintained. He said that cost of doing business in Pakistan must be reduced as the business sector was the driver of economy.
The BoI chairman said, “We want to brand Pakistan as entrepreneur future country by introducing innovations and modern industrial concepts on SEZs and Priories Economic Zones (PEZs).” While, Lahore Chamber’s SVP Khawaja Khawar Rashid said that business community had serious concerns about declining trend in FDI (Foreign Direct Investment) despite the fact that CPEC had brought positive change in the current scenario of national economy.
There were 48 countries which had signed Bilateral Investment Agreements with Pakistan but their share in total investments in Pakistan was negligible. He suggested the BOI would target these countries for marketing the investment potential of Pakistan.