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Pakistan has witnessed an increase of 62 % by attracted US$275.3 Million
FDI during past four months i.e. July-October, 2004 as compared to US$17.3
Million for the same period of last years, which is an encouraging sign. He
was chairing a high level meeting at Board of Investment to review the
progress and the status of Foreign Direct Investment and the measures being
taken to facilitate the investors both local and foreign to accelerate the
pace of investment in various sectors here today.
The Minister directed the BOI officials to include the recommendations of the
representatives of the Chambers of Commerce from all over the country for
further improving the investment policy and a report should be formulated for
this purpose by January 20, 2005. The facilitation centers at Karachi and
Islamabad need to be upgraded with specific tools, keeping in view the
requirements of the investors in this regard and a new center at Lahore should
also be developed, he said He said that a plan of Investment Conferences with
target sectors and target countries for the next three months should be
devised to attract foreign investment. A proper mechanism for follow up of the
conferences held within an out side Pakistan and the MOUs signed must be set
up to make the efforts result oriented, he added.
The Minister directed to hold Provincial Committees on Investment (PCOI)
meetings in all the four provinces during January 2005 to evaluate the
investment opportunities available in all parts of the country. BOI was asked
to hold meetings with various ministries for setting up effective windows to
further improve the investment scenario. BOI is also working on collaborative
ventures in various sectors such as corporate farming, housing and tourism.
Mr. Waseem Haqqie Chairman BOI apprised the meeting of the forthcoming
investment events being organized by BOI including Shanghai investment forum
at China and the work plan regarding holding sector specific conferences at
Kingdom of Saudi Arabia, Malaysia and Thailand for which comprehensive program
was being chalked out. Arrangements for holding SAARC Investment Treaty in
December 2004 were being finalized the Minister was informed.