Pakistan urges D-8 countries to invest in CPEC SEZs

Islamabad: Minister for Board of Investment (BOI) and Special Initiative, Chaudhry Salik Hussain has invited the Developing-8 countries to explore the investment opportunities in Pakistani Special Economic Zones (SEZs) being built under the China-Pakistan Economic Corridor (CPEC).

The Minister interacted with the delegates from the Developing 8 countries and informed them about the immense investment, especially in the CPEC SEZs.

Minister Chaudhary Salik Hussain, and Secretary BOI, Fareena Mazhar are in Istanbul to participate in the D-8 Investment Conference on the occasion of the 25th anniversary of the D-8 Organization.

The minister mentioned that the government of Pakistan was working with a vision to transform Pakistan into a high-end commercial, technology and manufacturing hub.

“I am happy to state that Pakistan’s agriculture sector, being the backbone of our economy, posted a growth of 4.4 percent in FY2022 owing to a 6.6 percent growth in crops and 3.3 percent increase in livestock production” he added.

Hussain stressed that the government of Pakistan was focusing on providing special relief in taxes and duties on different agriculture equipment and machinery.

“I invite the D-8 Nations to join hands with Pakistan and work together to make the D-8 alliance food secure and an agriculturally surplus country” he stated.

The government of Pakistan was working with a vision to transform Pakistan into a high-end commercial, technology and manufacturing hub, the minister emphasized.

He assured regarding the government’s resolve and commitment to facilitate businesses and investors in Pakistan.

On the occasion, Secretary BOI Fareena Mazhar delivered a detailed presentation and apprised the audience at the D-8 Investment Forum regarding Pakistan’s latest business reforms initiatives to improve ease of doing business.

“Pakistan has also seen an incredible improvement in its security situation and has conducted notable regulatory reforms which have been recognized globally by the World Trade Organization, World Economic Forum and the World Bank of Pakistan”, she noted. She invited the businessmen to explore investment opportunities in Pakistan in multiple sectors, accentuated that owing to Pakistan’s strategic location, the country provides access to three continents and 68 countries as it is being connected to the broader plan of the Belt and Road Initiative (BRI) through the China Pakistan Economic Corridor (CPEC).

A day earlier, the Minister and Secretary BOI’s also held a meeting with the Turkish leading business community.

The D-8 is a global arrangement including Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, Pakistan and Turkey. It was established with the objective of Economic Cooperation to improve member states’ position in the global economy, diversify and create new opportunities in trade relations, besides enhancing participation in decision-making at international level.

The 16th June 2022 marked the Silver Jubilee of the Organization and the Minister and Secretary for BOI also participated in the Silver Jubilee reception in Istanbul.