Special economic zones soon

SIALKOT - State Minister/Chairman Board of Investment Saleem H. Mandviwalla has said that a target of $5 billion has been fixed for Foreign Direct Investment (FDI) in the country. Talking to The Nation here at Sialkot Chamber of Commerce and Industry (SCCI), he said that in order to attain the fixed target the government has evolved a special line of action for the purpose, adding that strenuous efforts were being made to attract foreign investors to invest in Pakistan. "We are making special efforts that foreign investors should invest in industry, energy and agriculture sectors of Pakistan for 20 to 30 years with concept of attaining sustainable results of long term investment," he said. He further said that it is too difficult to get the positive and required output of short-term foreign investment, adding that keeping in view the previous experiences tireless effort were being made that foreign investors should invest for a long period in industrial, energy and agriculture sectors of Pakistan. "The fixed target of FDI would hopefully be achieved easily," he expressed the confidence. He revealed that the establishment of "Special Economic Zones" was on the cards in the country. The government would provide several incentives and concessions to the business community in special economic zones, he disclosed. The government, he said, would soon announce its formal policy for setting up special economic zones in the country Mandviwalla said that under the programme exporter community could develop special economic zones individually in the country for further accelerating the export activities as well as enhancing the export volume. The regular functioning of special economic zones would be supportive in setting up new industries, which would ensure a strong industrial base while generate wide opportunities employment in the country, he said.

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