LAHORE: A major Japanese business delegation comprising 250 members will visit Pakistan in the last week of this month to explore investment opportunities in various sectors, Federal Secretary for Board of Investment Asad Rehman Gillani said on Friday.

Speaking at the Lahore Chamber of Commerce & Industry (LCCI), Mr Gillani added that a Pakistani delegation will visit the Kingdom of Saudi Arabia on October 29-30 as the Saudi businessmen are keen to step into joint ventures with their counterparts in Pakistan.

He was talking about the government’s priority to boost economic and business activities through foreign investment and said Prime Minister Shahbaz Sharif has directed to remove all hurdles coming in the way of foreign direct investment. However, he admitted the fact that the investment is not going according to expectations owing to political instability.

He said Special Economic Zones (SEZs) have a ten-year tax holiday and machinery can be imported tax-free for the industries in SEZs. According to him, the procedure and rules and regulations for setting up industries in SEZs under FDI are being made easier. He said the business community would be taken on board once the draft in this regard is prepared.

Published in Dawn, September 17th, 2022