Pakistan Board of Investment
Encyclopedia
Board of Investment is the investment promotion agency
of Pakistan
. The Board of Investment assists companies planning to invest in Pakistan or to expand their Pakistani operations. The Board of Investment is a member of the World Association of Investment Promotion Agencies (WAIPA).
The Board of Investment is currently working as an autonomous body under the BOI Ordinance which was promulgated in March, 2001, with broad based responsibilities of promotion of investment in all sectors of economy; facilitation of local and foreign investors for speedy materialization of their projects and to enhance Pakistan’s international competitiveness and contribute to economic and social development.
In October 2008 the Board of Investment became a division within the newly formed Ministry of Investment. Following a re-organisation announced on 17th December 2009, the Ministry of Investment was abolished and the Prime Minister was pleased to announce that the Board of Investment has been placed under the administrative control of Prime Minister's Secretariat.
Pakistan, under the leadership of Board of Investment has attracted foreign direct investment
worth more than USD 21 billion so far in the current decade which compares to total foreign direct investment of less than USD 3 billion in the previous decade.
's latest Ease of Doing Business Index
report denotes Pakistan as the most welcome place to do business in South Asia ahead of India, Sri Lanka, Bangladesh etc. The report also positions Pakistan higher than the BRIC
countries of Brazil, Russia, India and China.
The Board of Investment acts as a focal point of contact for prospective investors, both domestic and foreign to provide them with all necessary information and assistance in coordinating with other Government Departments/Agencies.
The Board of Investment also evaluates applications of investors for the Work / Business Visa, Branch / Liaison Office and Airport Entry Passes.
Business leaders from across the globe work with the Board of Investment as "Honorary Investment Counsellors". They promote Pakistan internationally and highlight investment opportunities but also offer business experience and knowledge gained across a range of sectors and geographical markets.
The Board of Investment has specialist staff located at the head office in Islamabad
along with offices in each of Pakistan’s four provinces.
Investment promotion agency
An investment promotion agency is most often a government agency whose mission is to attract investment to a country, state, region or city...
of Pakistan
Pakistan
Pakistan , officially the Islamic Republic of Pakistan is a sovereign state in South Asia. It has a coastline along the Arabian Sea and the Gulf of Oman in the south and is bordered by Afghanistan and Iran in the west, India in the east and China in the far northeast. In the north, Tajikistan...
. The Board of Investment assists companies planning to invest in Pakistan or to expand their Pakistani operations. The Board of Investment is a member of the World Association of Investment Promotion Agencies (WAIPA).
History
The Pakistan Investment Board (PIB) was established in October 1990. Pakistan Investment Board (PIB) was renamed as Board of Investment and declared as part of the Prime Minister’s Secretariat with effect from 27 April 1994 and the Prime Minister became the President of the Board. Thereafter, the Board of Investment was declared as an attached department of the Ministry of Industries & Production in September 1996. The Board of Investment was transferred to Ministry of Privatisation & Investment in April 2003.The Board of Investment is currently working as an autonomous body under the BOI Ordinance which was promulgated in March, 2001, with broad based responsibilities of promotion of investment in all sectors of economy; facilitation of local and foreign investors for speedy materialization of their projects and to enhance Pakistan’s international competitiveness and contribute to economic and social development.
In October 2008 the Board of Investment became a division within the newly formed Ministry of Investment. Following a re-organisation announced on 17th December 2009, the Ministry of Investment was abolished and the Prime Minister was pleased to announce that the Board of Investment has been placed under the administrative control of Prime Minister's Secretariat.
Policy Advocacy
Achieve Steady improvements in the investment environment by:- Proposing measures to create a steadily improving investment friendly environment
- Removing and simplifying outdated unnecessary procedures, approvals and legislation
- Facilitating greater private sector role in industrial zone development
Investment Promotion
Provide exemplary leadership as the apex investment promotion body by:- Implementing proactive cost effective responsive and targeted promotion strategies
- Delivering effective investor facilitation services on behalf of the individual investor
- Creation of a centralized databank
Coordination
Strengthen linkages between public / private sectors by:- Developing effective working relationships with other GOPGovernment of PakistanThe Government of Pakistan is a federal parliamentary system, with an indirectly-elected President as the Head of State and Commander in Chief of the Pakistani Armed Forces, and an indirectly-elected Prime Minister as the Head of Government. The President’s appointment and term are...
federal organizations, provincial governments, district governments and Pakistan's missions in target areas. - Promote unit and consistency in implementing shared policy objectives
- Stimulate public - private partnership to attract investment
Objectives
Board of Investment’s main objective is to support long-term and sustainable economic growth in Pakistan by stimulating foreign investments and providing specific services to its clients, organizing events, publishing promotional materials, offering tailored services to foreign potential and existing investors in Pakistan, in publishing news and analysis on the economic and business developments in Pakistan.Pakistan, under the leadership of Board of Investment has attracted foreign direct investment
Foreign direct investment
Foreign direct investment or foreign investment refers to the net inflows of investment to acquire a lasting management interest in an enterprise operating in an economy other than that of the investor.. It is the sum of equity capital,other long-term capital, and short-term capital as shown in...
worth more than USD 21 billion so far in the current decade which compares to total foreign direct investment of less than USD 3 billion in the previous decade.
Ease of Doing Business
Pakistan is recognized as the easiest country in South Asia for doing business. The World BankWorld Bank
The World Bank is an international financial institution that provides loans to developing countries for capital programmes.The World Bank's official goal is the reduction of poverty...
's latest Ease of Doing Business Index
Ease of Doing Business Index
The Ease of Doing Business Index is an index created by the World Bank. Higher rankings indicate better, usually simpler, regulations for businesses and stronger protections of property rights...
report denotes Pakistan as the most welcome place to do business in South Asia ahead of India, Sri Lanka, Bangladesh etc. The report also positions Pakistan higher than the BRIC
BRIC
In economics, BRIC is a grouping acronym that refers to the countries of Brazil, Russia, India and China, which are all deemed to be at a similar stage of newly advanced economic development...
countries of Brazil, Russia, India and China.
Board Members
- Prime Minister of PakistanPrime Minister of PakistanThe Prime Minister of Pakistan , is the Head of Government of Pakistan who is designated to exercise as the country's Chief Executive. By the Constitution of Pakistan, Pakistan has the parliamentary democratic system of government...
- Chairman, Board of InvestmentSaleem MandviwallaSaleem H. Mandviwalla is the current Chairman of the Board of Investment and Minister of State for Investment of the Islamic Republic of Pakistan, a position he has held since October 2008...
- Finance Minister of PakistanFinance Minister of PakistanThe Finance Minister of Pakistan heads the Ministry of Finance and serves in the Prime Minister's cabinet. The Minister is required to be a member of the Parliament.The current finance minister is Abdul Hafeez Shaikh...
- Minister for Industries & Production
- Deputy Chairman, Planning Commission
- Chairman, Federal Board of Revenue
- Secretary, Board of Investment
- President, Overseas Investors Chamber of Commerce & Industry
- President, Federation of Pakistan Chambers of Commerce & Industry
- Mr. Abbas Habib
- Mr. Abbass Rashid
- Mr. Ali Zafar
- Mr. Asif Juma
- Mr. Baber Bashir
- Captain Faizi
- Mr. Gohar Ejaz
- Mr. Kalim Siddiqui
- Mr. Maqsood Ismail
- Mr. Mohsin Aziz
- Mr. Muhammad Raza
- Mr. Noman Wazeer
- Dr. Saad Niaz
- Mr. Sajjad Gul
- Mr. Suhail P. Ahmed
- Mr. Zahid Rafiq
Key People
- Saleem H. MandviwallaSaleem MandviwallaSaleem H. Mandviwalla is the current Chairman of the Board of Investment and Minister of State for Investment of the Islamic Republic of Pakistan, a position he has held since October 2008...
– Chairman - Shafqat Hussain Naghmi – Secretary
Departments/Wings
- Administration & Investor Facilitation Wing (Admin/IF)
- Policy Planning & ASEAN Wing (PP/ASEAN)
- Asia and Middle East Wing (AME)
- America and Europe Wing (A/E)
- Printing and Public Relations Section (P&PR)
- Regional Offices
Services
The wide range of professional services provided by Board of Investment includes disseminating information on the opportunities for investment and facilitating companies that are looking for project sites, joint venture partners and other resources. It promotes Pakistan as an investment destination through networking, conferences and events, media relations, Pakistan’s diplomatic missions abroad, and thought leadership.The Board of Investment acts as a focal point of contact for prospective investors, both domestic and foreign to provide them with all necessary information and assistance in coordinating with other Government Departments/Agencies.
The Board of Investment also evaluates applications of investors for the Work / Business Visa, Branch / Liaison Office and Airport Entry Passes.
Contacting Board of Investment
Board of Investment's global network will show companies why Pakistan is an ideal strategic choice for growth. By contacting the nearest Pakistani Embassy, High Commission, or Consulate, a company can get the information and assistance they need to make the right decisions.Business leaders from across the globe work with the Board of Investment as "Honorary Investment Counsellors". They promote Pakistan internationally and highlight investment opportunities but also offer business experience and knowledge gained across a range of sectors and geographical markets.
The Board of Investment has specialist staff located at the head office in Islamabad
Islamabad
Islamabad is the capital of Pakistan and the tenth largest city in the country. Located within the Islamabad Capital Territory , the population of the city has grown from 100,000 in 1951 to 1.7 million in 2011...
along with offices in each of Pakistan’s four provinces.
External links
- Board of Investment official site