A 04-Members delegation led by Mr. Wajid Rana, Senior Advisor on Technical Assistant from Asian Development Bank visited Board of Investment, Islamabad and met with Mr. Azher Ali Choudhry, Secretary, Board of investment and Mr. Shah Jahan Shah, Additional Secretary, BOI. The Secretary welcomed the Hon’able guests. The objective of this meeting was “Scoping of Economic Corridor Development in Pakistan”.
The meeting started with an introduction of CPEC, PECP and CAREC as the economic corridors majorly impacting the economy of Pakistan. Ms. Farzana Noshab, Senior Economics Officer while giving a detailed presentation said that ADB is conducting a study on the potential economic development along the corridor for which ADB would select node cities. The study by ADB shall cover the area/city/location and match it with its economic potential i.e. market niche so that investment and economic activity is generated on the potential. The main idea is to have evidence-based mapping of this potential.
Mr. Azher Ali Chaudhry, Secretary, BOI said that BOI along with provincial government has identified 9 prioritized SEZs along with CPEC, 7 approved SEZs and 46 other SEZ location. Data regarding status of land acquisition, potential sector for investment and facilities being provided will be shared with ADB for their studies in all SEZs is available with BOI. He added that BOI will share details of SEZs with ADB for its comprehensive analysis from ADB which can serve as a study for BOI to market and match a location to the investor.
Mr. Shah Jahan Shah, Additional Secretary, BOI added that the low ranking in Ease of Doing Business and complicated and long processes (tax refunds, registering property and getting electricity etc) are the as the major hindrances for the business community.
At the end Mr. Azher Ali Chaudhry, Secretary, BOI thanked Mr. Wajid Rana and other participants for their participation in the session.
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