BOI in a bid to accelerate Chinese FDI in Pakistan
More than 40 state-owned and private Chinese companies from diverse sectors participated, physically as well as online, in a four-hour symposium organised by the Board of Investment (BOI), here in Islamabad in BOI, PMU Industrial Cooperation Office.
The seminar is aimed at firming up a marketing strategy to attract Chinese businesses in Pakistan with an all-inclusive approach to engage relevant stakeholders in the public and private sectors alike. It becomes all more relevant for BOI, being the lead agency for industrial cooperation, to firm up policies related to investment promotion and facilitation aiming at improving the doing business environment in Pakistan.
This event is part of the initiative undertaken by the Prime Minister’s Office which is closely working on devising an effective strategy for Chinese industrial relocation in Pakistan. In this regard, the Mr Atif R. Bokhari, Chairman BOI, and Ms Fareena Mazhar, Secretary BOI, are personally supervising and collaborating the efforts to engage Chinese investors.
Prominent and leading Chinese enterprises were invited to share their views on improving the business climate of Pakistan and to make it more conducive for Chinese investment. Also, it is pertinent to mention that devising an all-inclusive marketing strategy will not only facilitate existing but also promote new Chinese businesses in Pakistan.
The companies expressed keenness and exuberance as they were overwhelmed by the responsive approach of BOI in registering their experiences in Pakistan. All the business-related issues faced by the Chinese companies were discussed in great detail. They candidly shared their ideas regarding the required policy interventions.
Ms Liu Rui, spokesperson of the Chinese Embassy in Pakistan also came up with plausible policy interventions for the consideration of the government agencies in Pakistan.
Speaking on behalf of BOI, the Project Director of CPEC Industrial Cooperation, Mr. Asim Ayub, thanked the participants for gracing the event and stated that BOI is undertaking initiatives of high marginal impact to attract meaningful FDI in Pakistan. The Project Management Unit (PMU-CPEC-ICDP) of the BOI which is exclusively working to facilitate the Chinese investors in Pakistan will undertake all-out efforts to make it convenient for the potential and existing Chinese companies to invest and expand their operations in Pakistan.
The Pakistani missions in China including the TIOs joined in the symposium to give their feedback while keeping in view their experience of frequent interaction with the Chinese investors.
Representatives from the Habib Bank of Pakistan Limited (HBL) also actively participated and provided pertinent input to strengthen G2G, G2B and B2B modes of collaboration.
During the previous month, BOI also held detailed consultative sessions with the private and public sector organisations and associations of Pakistan to deliberate on devising a mechanism to facilitate Chinese industrial relocation in Pakistan.