A Scope of Work for strengthening investment climate in Pakistan was signed today here in Islamabad between Japan International Cooperating Agency (JICA) and Baord of Investment (BOI).
The agreement was signed by Mr. Takatoshi Nishikata, Chief Representative of JICA and Mr. Saleem H. Mandviwalla, MOS / Chairman, BOI in the presence of the official from BOI and JICA.
Under the agreed plan, BOI and JICA will conduct a joint survey for investment climate improvement in Karachi. The survey will focus on industrial area around Port Qasim by identifying the problems and bottlenecks in attracting investment and propose action plans for their solution.
The Survey will cover the issues of administrative regulations, permissions and authorizations on corporate activities. It will further focus on living environment for foreign employees such as security, commutation, food and shelter, so on. The scope of the survey will encompass industrial infrastructure project especially in transportation and power sector.
It is highly predicated that the survey will open vistas of opportunities for foreign investors including Japanese to invest in Pakistani market.
Currently, JICA’s Investment Climate Improvement Advisor, Mr. Masao Nagase is working with BOI by suggesting ways and means for the improvement of investment climate in Pakistan. In this April, under the initiative of the advisor and with the cooperation of BOI, Japanese investors submitted “Problem-Analysis & Solution Action” to BOI which covers the requests from Japanese’s investors. To materialize these proposals, BOI is exerting maximum efforts to improve investment climate in Pakistan. The Objective of this survey is to support such efforts of BOI. In this connection, a team of experts are scheduled to visit Pakistan by the end of this year and JICA further intends to send Pakistani officials working in BOI on training to Japan for their capacity building and to enhance their horizon regarding investment climate improvement in Pakistan.
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