‘Efforts afoot to attract investment’

LAHORE: Efforts are afoot to make Pakistan a key destination for foreign and local investment, an official said on Monday.

Addressing the office-bearers of the Lahore Chamber of Commerce and Industry (LCCI), Board of Investment (BoI) Chairman Naeem Y Zamindar said that foreign direct investment is increasing gradually and a target of $3.7 billion has been set for the ongoing year.

He said Pakistan has lucrative opportunities for both foreign and local investors in various sectors of the economy, including textile, energy, agriculture, health, and education.

Special attention is being given to the special economic zones (SEZs) under the game changer project of China-Pakistan Economic Corridor (CPEC), he said, adding that the volume of Chinese economy is expected to be $30 trillion within the next 25 years and Pakistan can grab huge benefits, as economies of the two countries are going to be merged under CPEC.

He said the cost of doing business in Pakistan must be reduced, as the business sector is the driver of the economy.

“We want to brand Pakistan as an entrepreneur future country by introducing innovations and modern industrial concepts on SEZs and priories economic zones (PEZs)”, the BoI chairman added.