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UK deputy high commissioner meets BOI chairman.

ISLAMABAD, June 16 -- Robert Gibson Deputy High Commissioner and Director UK Trade and Investment called on Saleem H. Mandviwalla, Minister of State/Chairman Board of Investment (BOI) on Tuesday. The purpose of the meeting was to discuss the investment opportunities and exploration of new fields and regions for investment hunt in UK. Saleem H. Mandviwalla appreciated Robert Gibson for his efforts in attracting investment in Pakistan and highlighting the country at international forums. He told the visitor about more attractive policy parameters of investment in Pakistan, while stressing he underlined the policy that allows 100 percent foreign equity in the major sectors and full repatriation of profits and dividends in all the sectors. Mandviwalla briefed Gibson about the government's new initiative 'Special Economic Zones' in collaboration with private parties under various modes of collaboration including Public- private partnership or accord recognition to the privately estab1ished. He also added that the government is giving 10 years tax exemption to the investors under SEZs.

Speaking more about the SEZs, Minister stressed that the challenge is primarily to redraw national policy and, do investment architecture in a manner that would create a conducive environment for generation of economic opportunities and promotion or FDI in the country. He added that in the backdrop of international competition, the countries worldwide have created efficient and competitive industrial clusters and SEZs to reduce the cost of doing business. He explained that typically, an SEZ is a geographical region that has more liberal economic laws than a country's typical economic laws and regulations. Robert Gibson also discussed the infrastructure projects under SEZs and suggested facilitating the companies interested to invest in the remote areas of Sindh. He inquired about the investment facilitation in the areas where investors are reluctant to invest due to security reasons.

Published by HT Syndication with permission from Daily Times. For more information on news feed please contact Sarabjit Jagirdar at htsyndication@hindustantimes.com

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Article Details
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Publication:Daily Times (Lahore, Pakistan)
Geographic Code:4EUUK
Date:Jun 16, 2010
Words:332
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