Balochistan, the largest province of Pakistan in terms of land area,possesses abundant natural resources that make it an ideal destination forforeign direct investment (FDI). This injection of foreign capital iscrucial to support Pakistan’s struggling economy. Despite its immensepotential, Balochistan has lagged behind in development, limiting thenation’s access to the province’s wealth in marine resources, mining,agriculture, oil, gas, and more.
Efforts are currently underway to address the province’s law and ordersituation by engaging political forces, promising a brighter future forBalochistan’s residents and Pakistan as a whole. Recent economicdevelopments have brought optimism, particularly with Saudi Arabia’scommitment to establish a massive oil refinery through agovernment-to-government investment model.
The Saudi-Pakistani Memorandum of Understanding outlines a substantial $15billion investment, expected to create over 200,000 job opportunities.Furthermore, Saudi Arabia has pledged an additional $8 billion for themining sector in the province.
Prior to this initiative, both Saudi Arabia and China had been activelyinvesting in various Balochistan sectors, such as the development of GwadarPort and an airport.
The Balochistan Board of Investment and Trade (BBoIT) is keen on attractingforeign investments, offering up to 100% foreign ownership permission andencouraging foreign real estate developers to launch ventures withoutrestrictions. Companies can freely engage in foreign equity investments,share sales, ownership transfers, and profit repatriation without hurdles.
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Balochistan’s business-friendly environment extends to online registration,branch office establishment for foreign companies, and robust provisionsfor recognizing and enforcing foreign arbitration awards. Guaranteesagainst nationalization and expropriation are in place, alongside awell-established framework for protecting intellectual property rights.
Additionally, bilateral investment treaties with 47 countries provide workvisas for technical and managerial personnel, ensuring a smooth investmentprocess without the burden of double taxation. These initiatives hold thepromise of transforming Balochistan into a thriving hub of economicactivity that benefits both the province and Pakistan at large
