"We will hit another record-breaking investment in the BOI
's 51-year history.
The project will be executed by the BOI
, which is also the Secretariat for Industrial Cooperation under CPEC.
Priority of Board of Investment (BOI
) would provide ease on doing of business with all modern facilities for foreign investor in Special Economic Zones (SEZs), senior official of the Board of investment (BIO) told APP here on Tuesday.
Ever since its inception, the BOI
had approved only seven SEZs and held only seven Board meetings since 2001 and three meetings of its Board of Approvals (for approval of SEZs).
Through the MOA, the BOI
will now be part of the Mind2Market Network of IPOPHL which will tap on the existing programs of BOI
, such as the One Window Network (OWN) and the Trade and Industry Development (TID) Talks, to create stronger linkages between creators/inventors and investors.
Meanwhile, the BOI
has also given an explicit directive to Hayleys Free Zone Limited to prudently resolve and re-export of the remaining cargo on or before 12 August 2019.
The zero-percent duty shall be applied to importation by BOI-registered new and expanding enterprises of capital equipment, spare parts and accessories, upon issuance by the BOI
of a Certificate of Authority, provided that these equipment and materials comply with certain conditions.
The BOI-registered enterprise cannot sell, transfer or dispose of the equipment and articles within five years from the date of importation without prior approval of the BOI
However, in January 2018, having observed that a significant amount of this cargo was unloaded/stored within the free zone premises without being re-exported as envisaged, the BOI
had given written instructions to the company to strictly comply with the commitments laid out in the BOI
agreement and the applicable environmental regulations.
He expressed these remarks while briefing a 50-member Chinese Investment Delegation here at BoI
He further assured that his team at BOI
would provide all-out support to the Chinese investors regarding investment opportunities in Pakistan.
In a statement, the BOI
said total pledges hit P304.4 billion as of June, up from P238.9 billion in the same six-month period in 2018.