Chairman Board of Investment appreciates Korean companies and businessmen in Pakistan

ISLAMABAD: A Korean Trade & Investment delegation headed by Huh, CEO of KP Chemicals alongwith Shin Un, Ambassador of Korea visited Board of Investment and called on Saleem H. Mandviwalla, Minister of State / Chairman, Board of Investment and Mr. Tariq Iqbal Puri, Secretary, Ministry of Investment/ BOI Wednesday to discuss with them the investment opportunities available in Pakistan.

The meeting was also attended by senior officials of Federal Board of Revenue.

Chairman, Board of Investment welcomed the Korean delegation and appreciated the Korean companies and businessmen in Pakistan. He highlighted the policy parameters of investment in Pakistan. While stressing so he underlined the policy which allows 100% foreign equity in the major sectors and full repatriation of profits and dividends in all the sectors. It was further explained that the average rate of return is almost 30% and in some cases up to 50%.

The delegation was informed that Special Economic Zone (SEZ) are being set up with attractive incentive package. The enactment of the Zone policy is being approved by the Government. The same could be offered to Korean Companies on the pattern of Chinese and Japanese Economic Zones.

Tariq Iqbal Puri, Secretary, Ministry of Investment (BOI) appreciated the delegation for commitment to bring Korean delegation to Pakistan in future and further strengthening a strong link between Pakistan and Korea. He assured to extend all possible assistance required to them.

In addition to above, the Secretary elaborated about the incentives, tax exemptions being offered in the economic zones.

Korean companies can relocate their business to these Zones and can enter into Joint Venture with Pakistani companies. These could be used as a platform for outsourcing as well.