Pakistan has prioritized strengthening its industrial sector to stabilize the national economy with support from the Special Investment Facilitation Council (SIFC), according to government officials.
The Board of Investment (BOI) recently signed a Memorandum of Understanding (MoU) with the United Arab Emirates' International Free Zones Authority to attract investment into Pakistan's existing Special Economic Zones (SEZs). During the signing ceremony, UAE representatives acknowledged Pakistan's strategic importance for regional investment while praising efforts toward economic stability.
Officials revealed that Pakistan has developed a national framework utilizing modern and appropriate methodologies to harness the potential of Special Economic Zones and increase investment flows. The framework aims to ensure uniform policies, regulations, and incentives for SEZ development and expansion across the country.
The establishment of Business Facilitation Centers to provide comprehensive support to investors in SEZs represents a significant development in the initiative. These centers will serve as one-window operations to streamline processes for both domestic and foreign investors.
With SIFC assistance, the government is working to enhance performance and accountability through corporate models to promote industrial growth. Another key development includes offering effective payment options through easy installments for land prices in accordance with the Special Economic Zones Act.
Economic analysts project that these Special Economic Zones will contribute to increased exports, reduced trade deficit, and overall economic growth. The comprehensive approach includes streamlined regulations, investor incentives, and infrastructure development specifically designed to attract manufacturing and export-oriented businesses.
The partnership between Pakistan and the UAE represents one of several international collaborations the government is pursuing to strengthen the industrial base and improve economic indicators through targeted investment in priority sectors.
