• Ambassador of Belgium Philippe Bronchain on Tuesday visited Islamabad Chamber of Commerce & Industry (ICCI). During his visit to ICCI, he was along with his Trade Commissioner Abid Husain. 

    Addressing the business community, the ambassador said that his country was interested in making investment in Pakistan as it was a potential country for business and investment activities. 

    He discussed various prospects for further enhancing bilateral trade, investment and JVs between Belgium and Pakistan. He said that he would play role to build a strong image of Pakistan in his country. 

    Abid Husain, Trade Commissioner, Embassy of Belgium said that Pakistan was mostly exporting textiles products and some raw materials to Belgium. However, he said that Pakistan needed to invest in technology for producing value added products that would increase its footprint in foreign markets. He said it would also help Pakistan to fully capitalize on the GSP Plus concession of EU in order to enhance its exports. 

  • Fortescue Group chairman says they will create jobs, economic opportunities in Pakistan

    ISLAMABAD:
    Adviser to Prime Minister on Commerce and Investment Abdul Razak Dawood on Monday hailed Australian inventors for injecting capital into different sectors of Pakistan.

    During a meeting with a delegation of Fortescue Metals Group Limited, headed by Group Chairman Andrew Forrest, Dawood said the approach of Fortescue Group was unique and it would result in transfer of knowledge and technology to Pakistan.

  • ISLAMABAD: Ambassador of Belgium to Pakistan Philippe Bronchain has said that his country was interested in making investments in Pakistan, as it was a potential country for business and investment activities.

    The Belgian ambassador said during while addressing the business community at the Islamabad Chamber of Commerce & Industry (ICCI) on Tuesday.

    Philippe Bronchain discussed various prospects to enhance bilateral trade, investment and joint ventures between Belgium and Pakistan. He said that he would play a constructive role in building a strong image of Pakistan in his country.

  • ISLAMABAD, Sep 7 (APP): President Dr. Arif Alvi on Monday said that Pakistan had adopted a very liberal and investment friendly policy and foreign investors needed to benefit from the liberal investment regime.

    He said that the investment policy had been designed in a manner to provide a comprehensive framework for creating conducive business environment for foreign investors in the country.

  • A three-member Chinese trade delegation headed by Gao Bao Jun visited the Lahore Chamber of Commerce & industry on Monday and met the Vice President Mian Zahid Jawaid Ahmed.

    Issues of mutual interest were discussed during the meeting.

    Gao Bao Jun said that that there are investment opportunities in Pakistan in the telecom, energy and processed food sectors.

    He said that there is a need to work on the potential in the field of clean drinking water in Pakistan. The need for clean drinking water is a big part of life and its scarcity causes many diseases which further aggravate the problem in hospitals. He called for investment in the clean water sector.

  • ISLAMABAD- Chairman of Board of Investment, Atif R. Bokhari has said that industrialisation of Pakistan is the top agenda of Prime Minister Imran Khan and all-out efforts would be made to realize the vision by expediting the population of special economic zones in the country.

  • ISLAMABAD: The Approval Committee of the Board of Investment on Thursday okayed ‘Special Economic Zone’ status for the Allama Iqbal Industrial City (AIIC), Faisalabad, and referred the applications of JW SEZ and Dhabeji SEZ for consideration of the Board of Approvals, chaired by the prime minister.

    According to details, the committee reconsidered the zone application of AIIC and approved the SEZ status, subject to completion of all formalities.

  • Foreign direct investment (FDI) in Pakistan jumped 88 percent in the fiscal year of 2019/20, with most of the inflows going into power and communications sectors, led by China, numbers released by State Bank of Pakistan (SBP) showed on Friday.

    Pakistan attracted $2.561 billion FDI in July to June FY2020, compared with $1.362 billion in the previous fiscal year.

    The direct investment, however, was lower than the government’s target of $4.34 billion set for FY2020. This was due to the COVID-19 pandemic’s negative impact on investments that were felt strongly.

    The FDI was up 70.53 percent year-on-year to $174.8 million in June. It stood at $102.5 million during the same month of last fiscal year.

    The SBP data showed that China remained the largest investor with a net FDI of $844.1 million in FY2020, followed by Norway (402 million) and Hong Kong ($190.7 million).

    FDI in the power sector attracted $764.3 million foreign capital in July-June FY2020. However, investors pulled out $323.9 million from this sector in FY2019. The increase in the FDI in energy companies is attributed to an ongoing work on the CEPC-related projects especially in the thermal and coal-fired projects. Eight energy projects have been completed and nine are currently under construction.

    Communications sector inflows in the FY2020 stood at $663.9 million, while the communications businesses saw an outflow of $55.7 million a year earlier.

    Foreign funds managers pulled $241.3 million from the government securities such as treasury bills and Pakistan Investment Bonds in FY2020. That compared with $1 billion outflows in FY2019. Outflows from the stock market stood at $281.7 million, compared with $415.2 million in previous year.

    Total foreign investment amounted to $2.038 billion in FY2020 against the outflows of $54.8 million in FY2019.

    Source:- https://www.thenews.com.pk/print/688274-fdi-jumps-88pc-to-2-561bln-in-fy20

  • ISLAMABAD: The Board of Investment (BOI) on Thursday launched three online portals including Electronic Joint Venture (EJV), Branch Liaison Management Information System (BLMIS) and Special Economic Zones (SEZs) Information Portal to digitise all services for the benefit of investors.

    The three portals were launched by the BOI Chairman Atif Riaz Bokhari during an online event which was attended by the BOI Secretary Omer Rasul, senior officers and other stakeholders including representatives from the World Bank, Department for International Development (DFID), Pakistan Business Council (PBC), Federal Board of Revenue (FBR), National Technology Council (NTC) and Punjab Information Technology Board (PITB), said a press release.

    The BOI chairman highlighted that BOI was one of the leading organisations in the federal government, which had been effectively introducing technology-driven innovative solutions in terms of service delivery, with the ultimate objectives of bringing transparency, improving ease of doing business and facilitating, Foreign Direct Investment (FDI) in Pakistan.

    The BOI chairman also acknowledged the role of all stakeholders in providing support to BOI for the development of the online modules.

    BOI Secretary Omer Rasul explained that the objective behind the launch of the new portals is to help reduce human interaction and facilitate investors to access BOI’s services.

    He added that, following the policy of the federal government, BOI not only aimed to facilitate the investors through digitisation of services but also by reducing the timelines for seeking necessary approvals.

    The Electronic Joint Venture (EJV) portal is Pakistan’s first public sector online free business match-making service, which allows businesses to create partnerships worldwide.

    The portal allows enterprises to enlist their profiles on the website and provide useful information regarding new opportunities for investment.

    Similarly, Branch Liaison Management Information System (BLMIS) is an online application to aid the opening of branch offices and liaison offices in Pakistan.

    The application is a continuation of BOI’s Online Work Visa module which has enabled companies to apply for work visas online including payment of fee and grant of final visa documents, he added.

    Moreover, the Special Economic Zones Information Portal will help BOI to collect information from the enterprises and developers based in SEZs.

    Source:- https://profit.pakistantoday.com.pk/2020/06/25/boi-launches-e-portals-to-facilitate-local-foreign-investors/

  • The Board of Investment (BOI) launched a portal for ‘investment opportunities in Housing sector in Pakistan’ on its website here on Friday, aimed to facilitating the foreign companies interested in making investments in the low-cost housing sector and providing an effective One-Stop Shop solution.
    A simple ceremony for Portal launching was organized in the Board of Investment, which was attended by Chairman BOI, Mr. Atif R. Bokhari, Chairman Naya Pakistan Housing and Development Authority (NPHDA), Lt General Anwar Ali Haider, Secretary BOI Mr Omer Rasul and other senior officers, said a press release issued by BOI here.
    In his opening remarks, Atif Bokhari welcomed the Chairman NPHDA for launching of Portal for this landmark project of the Government.
    He appreciated the support provided by NPHDA team to BOI, enabling them to work in close coordination and develop the Portal in accordance with NPHDA requirements.
    Executive Director General (EDG) BOI, Mukarram Jah Ansari, made a brief presentation about the Portal. He told that BOI envisions making it easier for the interested businessmen to collect all the required information as well as go through the registration processes without any hassle.
    The EDG demonstrated that the Portal is linking the foreign investors with all relevant government organizations at Federal and Provincial levels, including Board of Investment for work visas and other services, Ministry of Interior for overall visa procedures, State Bank of Pakistan for relevant rules and regulations for foreign investors, Securities and Exchange Commission of Pakistan for company registration, Federal Board of Revenue for tax registration and Pakistan Engineering Council for required certifications.
    He further highlighted that the incentives given to the investors in housing and construction sector as well as other relevant information has been made available under the Portal.
    The present government has accorded the status of industry to Construction/Housing sector with plan to construct 5 Million Low Cost housing Units over coming five years.
    A special organization called ‘Naya Pakistan Housing and Development Authority’ has been established in this regard.
    BOI has been assigned the responsibility to act as focal point of contact, linked through a ‘Portal’ with various relevant ministries and organizations, for the assistance of foreign companies and businessmen. At the end of the presentation, Chairman NPHDA appreciated the efforts made by BOI in development of the Portal for facilitation of foreign investors interested in housing and construction projects. Chairman BOI, Atif Bokhari, directed his team to continue making improvements in the services and accessibility for maximum facilitation of the investors.

    Source:- https://pakobserver.net/boi-launches-portal-for-investment-opportunities-in-housing-sector-in-pakistan/