ISLAMABAD: The Board of Investment (BOI) has emphasised that Pakistan andChina need to focus and work towards expediting the relocation of ChineseIndustry in the Special Economic Zones (SEZs) including Rashakai SEZ.
In this regard, BOI Chairman Atif Bokhari met with China Road and BridgeCorporation (CRBBC) Vice President Sun Yaoguo and his delegation on Sundayand appraised the delegation about approval of two major incentives forSEZs i.e. custom and duty exemption on capital goods and elimination of 1.5percent turnover tax.
He assured the delegation that BOI will support CRBC in coordination withrelevant departments and ministries, as well as offering assistance withinBOI’s mandate.
“BOI looks forward to closely working with CRBC to not only facilitatetheir progress in Pakistan but also to jointly work towards Pakistan’s fastpaced industrialisation,” he said.Article continues after this advertisement
He also shared that domestic companies have shown keen interest in settingup enterprises in the Rashakai SEZ.
The CRBC suggested better communication with the Chinese business communityabout incentives and sectors for investment, to which Bokhari agreed andfurther said that he would organise a webinar on the issue.
Read Top Stories
The Chinese delegation highlighted that aggressive marketing of the SEZ tolocal and foreign investors is crucial for its speedy occupation andoperationalisation.
The meeting agreed that the standard of services combined with attractiveincentives offered by the government of Pakistan would make Rashakai a hubof economic activity.
Further, the delegation also briefed the meeting about CRBC’s mega project,the Karachi Coastal Comprehensive Development Zone, in collaboration withthe Ministry of Maritime Affairs, which aims at developing Karachi as aregional hub for economic activity while simultaneously generatingemployment opportunities for millions and bringing in sizable FDI.
