Islamabad, 11 January 2022 (TDI): Pakistani Minister of State & Chairman Board of Investment, Muhammad Azfar Ahsan, and the Secretary of the Board of Investment, Mukarram Ansari met with Angela Aggeler, United States Chargé d’Affairs in Islamabad.
The Minister of State and the Chairman of BOI apprised Aggeler about various Pakistan government policies and initiatives to incentivize investment in Pakistan.
The US Chairman was briefed, on the numerous lucrative incentives offered in Special Economic Zones and the improvement of a friendly business environment through laws. Mukarram Ansari emphasized the expansion of interaction between different business communities.
In addition, Pakistan has immense investment potential. The embassy can play a relevant role in the opportunities for the United States businesses. At the end of the meeting, both parties agreed to foster deeper collaboration.
What is the Board of Investment (BOI)?
The Board of Investment is a platform that assists companies (local or international), and investors who want to invest in Pakistan. The BOI is an Agency under the Prime Minister Office and was established in 1992 by the Pakistani government.
The project is to enhance the competitiveness and economic contribution of Pakistan to the world. The vision of BOI is to accelerate Pakistan’s economic diversification, worldwide integration, and human welfare improvement.
The Agency has many branches, such as the Investment Promotion Wing (IP), Ease of Doing Business and Better Business Regulatory Initiative Wing (EoDB/BBRI), Project Management Unit (PMU), China Pakistan Economic Corridor (CPEC), Special Economic Zones Wing (SEZs), Regional Offices, Investment policy, Legal & Research (PLR) and more.
For instance, the World Bank report of 2020 established the EoDB among the 11 biggest economies worldwide. Moreover in Asia, it is among the 20 reformers of the continent.
Regarding the importance of BOI in Pakistan, thanks to its geostrategic place between the Middle East and Southeast Asia, indeed, thanks to its localization and the opportunities, it is a relevant actor.
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