Ayesha Saba

The Board of Investment (BOI) is supporting B2B enterprises in Pakistan to encourage foreign investment through the smooth completion of projects, as the second phase of China-Pakistan Economic Corridor (CPEC) focuses primarily on industrial development through B2B investments, reports WealthPK.

The CPEC provides opportunities for Pakistan to stabilize its economy. Chinese investment in Pakistan is gradually increasing, which is very important for economic development. Talking to WealthPK, Additional Secretary of BOI Khashihur Rehman said,

“with the advent of the CPEC, the FDI inflow from China has been consistently on the higher side, with China being the largest FDI source of Pakistan. This testifies to the fact that Chinese investors are keen on exploring more areas of investment in Pakistan,” he added.

He said Pakistan always welcomed Chinese investors in almost all sectors of the economy, especially power, communication, infrastructure, electric machinery, tyre manufacturing, textile, petrochemicals, and ceramics.

Khashihur Rehman said, “As opposed to the first phase of CPEC, which was based on Government-to-Government (G2G) ties, the second phase will be based on Business-to-Business (B2B) and People-to-People (P2P) ties. In order to jointly undertake serious initiatives to entice Chinese enterprises into Pakistan, it is necessary to include major stakeholders from both sides.”

The BOI additional secretary further said, “we have developed a dedicated Pakistan-China Business-to-Business (B2B) Investment Portal in collaboration with the China Council for International Investment Promotion (CCIIP) for both Pakistani and Chinese companies, which will enable matchmaking of prospective businesses from both countries interested in entering into joint ventures (JVs) in Pakistan. Anyone interested in investment in Pakistan can find potential partners to expand and transfer business or to set up factories in the SEZS”.

Shedding light on the BOI policy, he said, “Pakistan has adopted a very liberal investment policy that puts no restriction on remitting capital and profits & dividends. 100% foreign equity and 100% repatriation of profits is allowed. Exemption of taxes on import of capital goods is available. All sectors are open to investments. Under the policy, foreign investors are granted the same status as those of local and domestic investors, and all facilities available to local and domestic investors are extended to foreign investors on an equal basis. Establishment of branch & liaison offices is also allowed”.

The BOI additional secretary praised China's National Development and Reform Commission (NDRC) for its proactive participation in facilitating the joint industrial cooperation projects and also the valuable cooperation of the Chinese embassy in this regard.

Federal Minister for Planning, Development, and Special Initiatives Ahsan Iqbal said the government will expedite the CPEC projects to promote B2B cooperation with China which will help to promote the industrial sector and increase Pakistan’s export potential and foreign direct investment.

Credit : Independent News Pakistan-WealthPk