Prime Minister Muhammad Shehbaz Sharif was informed that more than 200 business-to-business (B2B) business agreements, along with memorandums of understanding worth $70 million, have been signed with several Chinese companies, according to APP.
The Prime Minister chaired a review meeting to assess the progress of ongoing projects and various initiatives under the Board of Investment, according to a press release from the Prime Minister’s Office.
Prime Minister Shehbaz Sharif stressed the need for an effective and comprehensive roadmap to ensure completion of business agreements and implementation of memorandums of understanding with international investors.
“Work on regulatory reforms should be accelerated to provide an enabling environment for businesses in the country. Investment targets that can be achieved should be set as soon as possible,” the Prime Minister said.
The Prime Minister stressed the importance of effective marketing of investment opportunities in Pakistan to attract foreign investors. He directed to accelerate the construction of business facilitation centers across the country. These centres, along with promotional campaigns and similar initiatives, were considered crucial to promoting foreign investment.
During the meeting, it was revealed that 35 special economic zones across the country have been surveyed using Geographic Information System (GIS) technology. Comprehensive data on these special economic zones is now available to accelerate the progress of ongoing projects.
BOI officials presented an 18-point plan to make SEZs more effective and joint suggestions regarding the Ease of Doing Business Act, 2024. The law would enable the BOI to create a modern regulatory framework to facilitate business operations in Pakistan.
The meeting was also attended by Federal Minister for Privatization Abdul Aleem Khan and senior officials from relevant institutions.