Karachi: The State Bank of Pakistan (SBP) on Thursday (November 25) revealed in its report on Speical Economic Zones (SEZs) that in January 2021, 70 enterprises have been registered and granted active zone status in the country, news sources reported.
This is the highest number of approvals sanctioned by the Board of Approvals as compared to 200 firms registered in the last eight years. According to the report, the establishment of the Special Economic Zone Management Information System (SEZMIS) has made it easier for the Board of Approvals (BOA) to register companies. It was also disclosed that foreign direct investment in SEZ climbed to USD 646.6 million in the first five months of 2021, compared to USD 1,081.7 million in the previous eight years.
According to the research, the creation of an online system for purchasing land and tracking applications has made the development of new industrial units easier. The research also discussed the opportunities for reform in the country’s present legislation pertaining to the regulation and management of SEZs, which would assist in increasing the ease of doing business and attracting more FDI. The SEZMIS is a management system created and operated by the Board of Investment (BoI) with the goal of increasing business prospects.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
