Relocation of Chinese industry in SEZs needed to be expedited

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Staff Reporter
Islamabad

Minister of State and Chairman Board of Investment (BOI) Atif Bokhari on Sunday stressed the need of expediting the relocation of Chinese Industry in the Special Economic Zones (SEZs) including Rashakai SEZ.

He was talking to Vice President, China Road and Bridge Corporation Mr. Sun Yaoguo and his delegation which called on him at his office.

Chairman BOI Atif Bokhari welcomed the delegation and praised China Road and Bridge Corporation (CRBC’s) impressive work in the Rashakai SEZ.

China and Pakistan have negotiated in detail on the development progress and marketing plans for Rashakai Special Economic Zone (SEZ) and other matters of mutual interest.
Both sides also discussed the interest of Chinese enterprises in Rashakai.

During meeting Chairman BOI concurred with Mr. Sun for perusal of an aggressive marketing campaign that effectively highlights the monetary benefits for investors.

In this regard Chairman BOI appraised the delegation about approval of two major incentives for SEZs i.e. custom and duty exemption on capital goods and elimination of 1.5 percent turnover tax.

He applauded the work being carried out by CRBC in Pakistan.
Atif Bokhari assured the delegation that BOI will support CRBC in coordination with relevant departments and Ministries as well as offering assistance within BOI’s mandate.

BOI looks forward to closely orking with CRBC to not only facilitate their progress in Pakistan but also to jointly work towards Pakistan’s fast paced industrialization.

He also shared that domestic companies have shown keen interest in setting up enterprises in the Rashakai SEZ and desired that this should be looked into.

On a suggestion from CRBC to effectively communicate with the Chinese business community about incentives and sectors for investment, Mr. Bokhari agreed and further suggested that he will be part of a webinar on the issue.