Board of Investment (BOI) presented Investment opportunities in China Pakistan Economic Corridor (CPEC) during a webinar jointly organized by Embassies of Pakistan and China, hosted by Jakarta.
MOS/Chairman BOI, Ambassadors of Pakistan and China to Jakarta, Deputy Minister for Coordination and Mining, Chairman KADIN, DG NDRC, Deputy Chairman BKMP, Deputy Director CIECC were part of the webinar.
The event highlighted the achievements of the CPEC as the flagship project of the Belt and Road Initiative (BRI) and apprised the audience about the project’s inclusiveness to third-party participation.
Addressing the webinar, BOI Chairman, Atif Bokhari, appreciated the organizers for holding such a meaningful webinar on CPEC. He shared that CPEC has entered its second phase, and efforts are now focused on forging B2B and P2P collaborations in the form of Industrial and socio-economic cooperation.
Briefing about Pakistan’s liberal investment regime, Chairman stated that Pakistan allows 100 percent repatriation of profits, dividends, and capital. In addition, Pakistan is actively pursuing the development of SEZs.
He also informed that Pakistan is offering attractive fiscal incentives, including a 10-year tax holiday on income and custom duty exemption on the import of capital goods to both developers and enterprises.
He added that the government launched conducive policies for electric vehicles (EV), mobile manufacturing, and the construction sector in a bid to enhance the investment profile of Pakistan.
He concluded by encouraging Indonesian and Chinese investors to be part of the shared future of Industrialization and economic prosperity.
Pakistan Ambassador to Jakarta, Muhammad Hassan, underscored the importance of the webinar as a meaningful platform that offers an opportunity for all sides to understand and explore potential avenues.
Ambassador of China, Xion Qian, remarked that CPEC is a landmark project and it offers a valuable opportunity to the three countries to explore trilateral cooperation and untapped business opportunities.
The participants identified that Pakistan and Indonesia can explore collaboration in the field of textile, food processing, agricultural products, infrastructural development, chemical and pharmaceuticals, engineering goods, gemstones, iron, and steel, to name a few, as Indonesian companies have vast experience and expertise in these areas.
The Indonesian speakers stated that their companies can help Pakistan in establishing downstream industries and also assist with value-added products.
Secretary BOI, Fareena Mazhar, applauded the efforts of the organizers for arranging the webinar. She stated that Pakistan is taking several reform initiatives to streamline our business processes and offer a conducive business environment to both local and foreign investors.
Fareena shared that Pakistan would welcome Indonesian investment in sectors such as food and agriculture, value-added textile, tourism, and construction.
She also encouraged investors to explore the Electric Vehicle sector as Pakistan offers tremendous scope for setting EV manufacturing units.
A detailed presentation on CPEC was delivered by Project Director PMU, Asim Ayub. He briefed the audience about Industrial Cooperation under CPEC, various incentives available to investors under SEZ act, and Pakistan also offers sole enterprise options. He emphasized that Pakistan is fully focused on Industrial transformation, and investors should take benefit of the lucrative incentives.
The webinar offered an opportunity to jointly explore the promising prospects of CPEC and devise a way forward to bolster regional economic cooperation. The participants vowed to further advance Industrial cooperation between Pakistan, China, and Indonesia.