BOI Invites German Investors To Invest In SEZs

ISLAMABAD, Aug 12 (APP): The board of Investment (BOI) Wednesday said that there were a lot of opportunities for German investors in the Special Economic Zone (SEZs) and the government would provide them all the facilities.

The Secretary Board of Investment (BOI), Fareena Mazhar said this while talking about investment facilitation, elaborated on the incentives introduced for investors, especially in the domain of tax exemption in the Special Economic Zones (SEZs), said a press release issued by BOI here.

Ambassador of Pakistan to Germany, Dr. Muhammad Faisal called on the secretary.

She added that the tax free regime of SEZs had a great potential for attracting investors and apprised the ambassador about the recent tax reforms regarding elimination of minimum turn over tax for zone enterprises.

The secretary said that the BOI would move forward with the new template after consultations with the Foreign Office and the ambassador assured of his full support in that regard.

While discussing the possible areas of investment in Pakistan, the ambassador conveyed that German investors were interested in hydrogen production through excess power available in Pakistan.

The ambassador shared that Siemens and IKEA were interested to invest in Pakistan.

Dr Faisal said that this was an untapped segment and had good investment prospects being an excellent alternate fuel for the future.

He further added that many German businesses including Siemens and IKEA had specifically shown interest in investing in Pakistan.

The interest of German company in Gwadar Pasni Railway and auto sector of Pakistan was also brought under discussion.

During the meeting, the ambassador was also apprised about the recent development in Bilateral Investment Treaty (BIT) and the new template approved by the cabinet.

Both sides underscored the importance of regular coordination between BOI and the German embassy and decided to formulate a detailed plan for holding investment conference in Germany to highlight investment potential of Pakistan.

Some important meetings between German business giants and Secretary BOI are expected to follow as a consequence of today’s interaction.