A first-of-its-kind investment policy has been introduced in Balochistan to attract investments in various spectrums of socio-economic development.
The Chief Executive Officer of the Balochistan Board of Investment and Trade, Farman Zarkoon, said in a statement on Monday that the new investment policy is one of the latest incumbent reforms in a series of recurring economic developments aimed at attracting venture capital from domestic and overseas companies.
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Discussing future policies with investors from Karachi, Zarkoon said that Balochistan now offers a sustainable ecosystem for the local and foreign investor pools to delegate business ventures at the infrastructural level. He also highlighted the Gwadar Free Zone as an ideal venue for setting up shop.
Regarding taxation and security, he suggested that the investment policy exempt the payment of tax for 23 years. New businesses and associate channels receive 100 percent exemption from customs duties pertaining to construction and operations, and provide a 99-year land lease, flexible visa rules, state-of-the-art offices, high-end infrastructure, and ready-to-use warehouses and small industrial units.
Numerous concessions have been made to accommodate assets in the free trade zone that include water desalination plants, LNG terminals, restaurants, recreational facilities, and an oil city project across 8,000 acres of land.
It is worth mentioning that the investors will be able to access the standard facilities at their doorsteps.
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Zarkoon added that the investor pool also has the opportunity to cash in on mid-level projects like the setting up of supermarkets, power generation units, oil terminals, warehouses, container rails, and import industries.
“Projects related to tourism and hotels can also be entertained at the highest level,” he said.
Balochistan currently boasts a resourceful backdrop for investors to engage in livestock, special economic zones, industrial construction, and agricultural sectors.