Saleem H. Mandviwala
Mandviwala emphasized that Pakistan has the ‘potential’ to be a real power in the region and the Board of Investment (BOI) is playing its role in driving Foreign Direct Investment as well as helping grow the private sector. He gave the recent examples of LOTTE and BOSCO that have invested in hundreds of millions of dollars and BOI played a critical role in bringing them to Pakistan. Currently the Board is working with the Japanese company YAMAHA to make a substantial investment in Pakistan. He shared other new services launched by the BOI such as online work and visit visa applications as well as accepting applications from investors to open branch offices in Pakistan.
Mandviwala also mentioned the Special Economic Zone (SEZ) Act under which investors can get a host of benefits, including: 1. Corporate Income Tax Holiday of 5 years for Investors and 10 years for developers of the Zone 2. Duty free import of capital
goods 3. Infrastructure and utilities
provided at the zone gate 4. One window facility by BOI within the Zone for facilitation of Investors 5. Protection through an Act of Parliament. He also mentioned the World Bank’s “Ease of Doing Business Report 2011” in which it ranks Pakistan higher than BRIC countries in most categories.
Mandviwala shared many success stories about Pakistan’s private sector including Nestle, Toyota and Engro and banking and telecom in the services sector. BOI provides a professional onewindow interface for all local and international investors. Its promotion strategy is not just focused on large organizations and multinationals but also on the Small and Medium sized enterprises