Pakistan is focusing on strengthening its industrial sector to stabilize the national economy, with the support of the Special Investment Facilitation Council (SIFC), according to government officials.
In a recent move, the Board of Investment (BOI) 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 highlighted Pakistan’s strategic importance for regional investment and commended the country’s efforts towards economic stability.
Officials revealed that Pakistan has developed a national framework using modern approaches to maximize the potential of SEZs and boost investment. This framework aims to ensure consistent policies, regulations, and incentives for the development and expansion of SEZs across the country.
A major development in this initiative is the creation of Business Facilitation Centers, which will provide comprehensive support to investors within SEZs. These centers will operate as one-stop shops, simplifying processes for both domestic and international investors.
With assistance from SIFC, the government is working to improve performance and accountability through corporate models to stimulate industrial growth. Another key development is the introduction of flexible payment options, allowing land prices to be paid in easy installments in line with the Special Economic Zones Act.
Economic analysts predict that SEZs will play a significant role in increasing exports, reducing the trade deficit, and driving overall economic growth. This comprehensive strategy includes streamlined regulations, investor incentives, and infrastructure development aimed at attracting manufacturing and export-oriented businesses.
The partnership between Pakistan and the UAE is one of several international collaborations the government is pursuing to strengthen the industrial sector and enhance economic indicators through targeted investment in priority industries.
