Islamabad, December 20, 2024: Prime Minister Shehbaz Sharif was informed on Friday that over 200 business-to-business (B2B) agreements and a memorandum of understanding (MoU) worth $70 million have been signed with various Chinese companies.
The update was shared during a review meeting chaired by the prime minister to assess the progress of ongoing projects and initiatives under the Board of Investment (BOI), according to a statement from the PM’s office.
PM Shehbaz Sharif emphasized the need for an effective and comprehensive roadmap to ensure the completion of these agreements and the implementation of MoUs with international investors.
“Accelerate work on regulatory reforms to create a conducive environment for businesses in Pakistan. Investment targets should be set with a focus on achievable outcomes,” the prime minister said.
Highlighting the importance of attracting foreign investment, PM Sharif stressed the need for effective marketing of Pakistan’s investment opportunities.
The prime minister directed authorities to expedite the construction of business facilitation centers across the country. He underscored that such initiatives, along with roadshows and other promotional activities, were crucial to drawing foreign investment.
During the meeting, officials from the BOI briefed the prime minister on ongoing efforts to enhance the effectiveness of the country’s 35 Special Economic Zones (SEZs). They revealed that a Geographic Information System (GIS) survey had been conducted on the SEZs, providing extensive data to accelerate project implementation.
An 18-point plan has also been developed to make the SEZs more effective.
The BOI presented proposals for the Ease of Doing Business Act 2024, which aims to modernize Pakistan’s regulatory framework for business. Under this act, the BOI will establish regulations aligned with contemporary requirements to streamline business operations in the country.
The prime minister reaffirmed his commitment to ensuring swift progress on these reforms and initiatives.
The meeting was attended by Federal Minister for Privatization Abdul Aleem Khan and senior officials from relevant institutions.
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