INVEST IN EMERGING BOARD OF INVESTMENT P KIST N ISLAMABAD - JANUARY – APRIL 2019

ADVISOR’S MESSAGE Abdul Razak Dawood CHAIRMAN’S MESSAGE Advisor to the PM on Commerce, Haroon Sharif Textile, Industry & Production MOS - Chairman BOI and Investment

There is no doubt that the country's potential is Board of Investment is cognizant of the fact that under-utilized at the moment and Pakistan can Pakistan has the potential and need for FDI but it emerge as one of the fastest growing countries is not without the several constraints which are in the region. Currently, Pakistan is at 65th place still persisting and hindering the investors. We with respect to the FDI received at the global are reevaluating the investment strategies with level. While China appears to dominate foreign specific emphasis on attracting FDI in export- investment due to CPEC, , UAE, oriented segments that will help in improving Turkey, Malaysia and are some of the value-added exports and will pave way for countries that have recently shown interest in oil export-led growth. Pakistan is lagging behind in and gas, Agriculture based food processing, technology and value-added products due to Energy, Petroleum & Petrochemicals and inflow of FDI in a handful of sectors. telecommunication sectors of Pakistan. BOI is developing a close coordination BOI is making concerted efforts to facilitate mechanism with the Foreign Missions abroad investors to materialize these commitments into and local chambers and business houses to reality. The focus is to improve business climate increase the influx of quality and sustainable and to reduce administrative and procedural investments in Pakistan. BOI team is committed burden from the investors through its various to facilitate local and foreign businesses in each initiatives such as Special Economic Zones and step to materialize their projects and businesses. Ease of Doing Business etc .

Page | 01 JANUARY – APRIL 2019

BOI'S BOARD RECONSTITUTED

In pursuance of provisions of Section 3 of BOI Investment, Minister for Energy and Chairman Ordinance 2001, the Federal Government BOI as members. Members from private sector reconstituted the BOI's Board with members from include senior economists, businessmen and both public and private sectors. The Board will be executives. The Board has been ineffective for presided by Prime Minister of Pakistan, with quite a while now and its revival by the Advisor to PM on Finance, Advisor to PM on Government is a step in the right direction. First Commerce, Textile, Industry & Production and meeting of the Board will be conducted soon. PUBLIC SECTOR

Advisor to PM Advisor to PM on Finance on Commerce Mr. Abdul Hafiz Sheikh Mr. Abdul Razak Dawood

President of the BOI Board Hon’ble Prime Minister Federal Minister for Energy MOS - Chairman Secretary Board (Power Division) Board of Investment of Investment Mr. Umer Ayub Mr. Haroon Sharif Mr. Omer Rasul PRIVATE SECTOR

Dr. Salman Shah Dr. Mr. Ahmer Bilal

Mr. Naveed A. Khan Mr. Ali Naqvi Mr. Asif Peer

M. Farooq Naseem

Page | 02 JANUARY – APRIL 2019

CPEC PROJECT MANAGEMENT UNIT ESTABLISHED AT BOI

The China Pakistan Economic Corridor's apex This unit will provide a much-needed platform for forum Joint Cooperation Committee (JCC) has multi-sectorcoordination, consultation and policy assigned the Board of Investment (BoI) to formulation. It will enhance capacity and provide facilitate, coordinate, implement, monitor and policy and governance advice to support Federal, evaluate the industrial cooperation under CPEC. Provincial Regional Governments for A Project Management Unit (PMU) has been establishment and relocation of industries established in the year 2018 in BoI to take besides attracting foreign direct investment in forward the Industrial cooperation. various sectors.

This newly established unit in BoI is The PMU will also work to mobilize people to assigned the task formulate a long term people & academia exchanges, HRD, ensure plan, defining overall direction, ideas transfer of knowledge & technology, provide and goals of cooperation. It will perform researched based data to implement CPEC the role of a coordinating body for industrial cooperation projects in a smooth and collecting and disseminating the steady manner and capture the window of t e c h n i c a l a n d o t h e r n e c e s s a r y opportunity for structural transformation in information amongst all concerned Pakistan. It will also market various investment stakeholders and keep intervening in the opportunities available in Pakistan for Chinese planning and development of state of and foreign investors and provision of complete the art special economic, export business solutions to them to invest in Pakistan. processing and industrial zones across the country.

Page | 03 JANUARY – APRIL 2019

2nd BRI FORUM HELD IN BEIJING, CHINA

April 26-28, 2019: Prime Minister Imran Khan, The five-point action plan proposed by the accompanied by Advisor to the Prime Minister Prime Minister Imran Khan, in his inaugural on Commerce and Investment, Mr. Abdul speech, included joint efforts for mitigating Razak Dawood, Chairman Board of climate change, establishing a BRI tourism Investment, Mr. Haroon Sharif, and other corridor for promoting people-to-people cabinet members, attended 2nd Belt and Road contacts and intercultural understanding, Forum at Beijing. In his remarks, Prime Minister setting up an office of anti-corruption Imran Khan stressed the need for further cooperation, creating a poverty alleviation boosting connectivity under the umbrella of fund, and further liberalising trade and Belt and Road Initiative. investment flows by encouraging private sector and businesses to collaborate in projects.

Page | 04 JANUARY – APRIL 2019

On the sidelines of the Belt and Road Forum, Chairman Board of Investment (BoI) Mr. Haroon Sharif met Liu Dianxun, Director General of Investment Promotion Agency (CIPA) of Ministry of Commerce of the People's Republic of China, on Friday at Beijing. Mr. Sharif discussed revival of a Memorandum of Understanding with CIPA and both sides agreed to revive the cooperation in order to ensure investment promotion in prioritized sectors such as Information Technology, Textiles and Agro-based products.

PAK CHINA TRADE & INVESTMENT FORUM IN BEIJING

April 28, 2019: Pak China Trade & Investment economic zones being built under the China- Forum was held in Beijing. The event was Pakistan Economic Corridor (CPEC). Foreign organized by Trade Development Authority of Minister, Makhdoom , Pakistan. Prime Minister of Pakistan, Imran and Advisor to PM on Commerce, Textile, Khan, chaired the forum, where he invited Industry & Production and Investment, Abdul Chinese entrepreneurs to take benefits of Razak Dawood, were also present on the investment-friendly policies of his government occasion. The event was attended by more than and relocate their industries to the special 370 Chinese companies and businessmen and 70 entrepreneurs from Pakistan. Executive Director General of BOI, Fareena Mazhar, and Pakistan Ambassador to China, Masood Khalid, also participated in the event.

Page | 05 JANUARY – APRIL 2019

PAK-MALAYSIA BUSINESS LEADERS ROUND TABLE

22 March, 2019:- The Board of Investment The Prime Minister Imran Khan said the held an investment roundtable with 40 conference was about "improving increasing Malaysian Businessmen which was attended by trade between the two countries, learning from the Prime Ministers of Malaysia and Pakistan. the Malaysian model and investment The two PMs also witnessed the agreements opportunities". exchange Ceremony of Malaysian companies like Edotco, Proton and Indahraya Enterprises, He said both countries had decided on the with their counterpart organizations in Pakistan formation of a "strong ministerial-level in the fields of Telecom, Automobile and Food committee which will meet regularly and keep processing. interacting, so we know exactly how we can keep enhancing and increase trade between the two countries."

Page | 06 JANUARY – APRIL 2019

VISIT OF HIGH LEVEL DELEGATION OF PAKISTAN TO SAUDI ARABIA

February 26 2019: A high-level Pakistani counterparts to enhance the prospects of delegation visited Saudi Arabia under the developing relations in the fields of refining chairmanship of Dr. Tenveer Qureshi, and mining. The visit comes after the signing of additional secretary for petroleum affairs at the a number of important agreements and Pakistani Ministry of Energy. Board of memorandums of understanding between Investment was represented by Additional Riyadh and Islamabad during the recent visit of Secretary, Muhammad Saleem Ahmad Ranjha. Crown Prince Muhammad Bin Salman to The delegation also included officials and Pakistan in a number of important fields, experts from the energy and mining sectors in including refining, petrochemicals, mining, Pakistan. The members of the Pakistani renewable energy, electricity and financing delegation held meetings with their Saudi Pakistan's supply of crude oil and petroleum products including natural gas.

Page | 07 JANUARY – APRIL 2019

INVESTMENT PROMOTION SEMINARS AND ACTIVITIES IN JAPAN

26 Feb - 06 Mar 2019: Ms. Fareena Mazhar, latest information of investment climate and Executive Director General Board of business opportunities in order to attract Investment, and Mr. Zuhfran Qasim, Director Japanese companies through investment for Policy and Planning BOI, visited Japan for seminars in four cities of Japan. The delegation investment promotion and facilitation activities. also conducted networking sessions, one on The primary objective of the visit to build one meetings and company visits with the goal positive image of Pakistan and disseminate of providing facilitation to companies already doing business in Japan.

“DOING BUSINESS IN PAKISTAN” EVENT IN DUBAI

01 March, 2019 German Emirati Joint Council Mr. Haroon Sharif Minister of State and for Industry & Commerce (AHK) organized Chairman Board of Investment Pakistan was 'Doing Business in Pakistan' event at Dubai. the keynote speaker at the event. Besides The event was attended by 35 major German Chairman BOI, the German Ambassador to companies based in UAE including Audi, Pakistan, H.E. Martin Kobler and Pakistan's Volkswagen, BMW Group, Halfen, Hugo Boss, Ambassador to UAE Mr. Moazzam Ahmed Lufthansa, PUMA, Rohde & Schwarz, Deutsche Khan were also present. Bank and Siemens etc.

Page | 08 JANUARY – APRIL 2019

PAKISTAN-QATAR TRADE AND INVESTMENT FORUM

10 March 2019: The Board of Investment held This was followed by panel discussions on an investment conference in Doha, Qatar in Investment Opportunities in Pakistan and collaboration with Qatar Financial Centre. Investment Opportunities in Qatar for Pakistani Adviser on Commerce, Industries & Production Conglomerates. On the sidelines, Abdul and Investment and Chairman, BoI attended Razzak Dawood and Haroon Sharif also met the event. 30 Businessmen from Pakistan's Qatari Minister of Commerce, Ali Bin Ahmed Al aviation, tourism, energy, hospitality and food Kuwari, as well as Sheikh Faisal Bin Thani Al sectors attended the Investment Forum as well Thani, from Qatar Investment Authority (QIA). as B2B meetings. During the meetings, Razak Dawood explained the priorities of the government and the reform BOI Chairman Haroon Sharif gave a short drives to improve the overall business and presentation on the investment opportunities in investment climate in Pakistan. A Pakistan, with special focus on improving the Memorandum of Understanding was signed business circumstances in the country through between Qatar Financial Center and Pakistan reforms and special incentives. Stock Exchange as well.

Page | 09 JANUARY – APRIL 2019

CHAIRMAN BOI CHAIRS 5th MEETING OF APPROVALS COMMITTEE OF SEZs

April 10, 2019: Chairman Board of Industrial Parks Development & Management Investment, Mr. Haroon Sharif said that Company (NIP), Provincial Boards of government is focusing on three core aspects; Investment and Trade, PARCO, and SEZ improved governance, provision of sufficient Developers were also present on the occasion. basic utilities and rationalization of land prices to ensure establishment of an efficient Director General CPEC BOI, Syed Hamid Ali, industrial base in Pakistan. briefed the Committee on the observations of the Board of Investment (BOI) relating to the He expressed these views while chairingthe 5th seven applications for SEZs. The Committee Meeting of Approvals Committee of Special directed the Developers of the seven Economic Zones (SEZs) at the Board of applications to address the observations raised Investment (BOI), Islamabad. Executive by the Board of Investment. During the Director General BOI, Fareena Mazhar, Syed meeting, KP government representative Hamid Ali, DG CPEC BOI, representatives from informed that the provincial Cabinet has Punjab Industrial Estates Development & approved Concession Agreement of Rashakai Management Company (PIEDMC), National SEZ.

Page | 10 JANUARY – APRIL 2019

PAK SAUDI BUSINESS CONFERENCE

18 February 2019: The Board of Investment according to the spirit of MoUs. In this regard, a held an investment conference at Islamabad Saudi-Pakistan Supreme Coordination Council during the visit of the Crown Prince of Kingdom is created which will be co-chaired by HRH and of Saudi Arabia H.R.H Muhammad Bin Salman PM of Pakistan. The council aims to unite efforts to Pakistan. Around 50 businessmen from and raise level of coordination between two Pakistan and 22 businessmen from Saudi countries to achieve mutually agreed political, Arabia attended the B2B event. economic and development objectives. Three pillars, i.e. the Political and Security Pillar, the Prime Minister Imran Khan has assured the Economic Pillar and the Social and Cultural investors of transparency and efficiency, which Pillar, are created, which will be managed by necessitates putting in place mechanisms to their own steering committees. ensure the implementation of projects

Page | 11 JANUARY – APRIL 2019

QATAR DELEGATION HEADED BY SHEIKH FAISAL BIN THANI AL THANI

01-02 April, 2019: Qatari B u s i n e s s D e l e g a t i o n comprising 08 experts of QIA, and Nebras Power, headed by Sheikh Faisal bin Thani Al Thani, Head of Regional Portfolios, QIA visited Pakistan from 01-03 April, 2019.The delegation included Sultan Ali Hamad, Sultan Hassan Al-Saadi and Mr. Faisal Abbas Chaudhry, from Emerging Markets QIA, Mr. Hamad Al-Mulla, CEO of Katara Hospitality, Mr. Mohammed Al-Hasmi, Real Estate Department QIA, Mr. Deven Arvind Karnik, Head of Infrastructure Department QIA, and Mr. Khalid Jolo, CEO of Nebras Power. B o a r d o f I n v e s t m e n t prepared a comprehensive program for the delegation which comprised of call on to the Prime Minister of Pakistan as well as meetings with Ministers for Finance, Power, Housing & Works, Privatization and Aviation, Advisor to Prime Minister on Commerce, Trade, Industry & Production and Investment, Overseas Pakistanis, Chairman Pakistan Stock Exchange, Secretary Tourism GB, Secretary Tourism KPK and Governor Punjab. B2B meetings with Private Sector were also arranged.

Page | 12 JANUARY – APRIL 2019

MEDEF INTERNATIONAL BUSINESS DELEGATION TO PAKISTAN

08-11 April, 2019: MEDEF International B o a r d o f I n v e s t m e n t p r e p a r e d a Business Delegation comprising 32 comprehensive program for delegation i.e. call businessmen from 21 companies visited on to the Honorable President and Prime Pakistan. The delegation represented Minister of Pakistan as well as Ministers for companies including Total, Agricole Bank, Finance, Power, Petroleum and Food Security Dassault Systemes, Archetype Group, and visits to Lahore and Karachi, where B2B Deltacom, Gemalto, Semmaris, JCDecaux etc. meetings with Private Sector were arranged.

Page | 13 JANUARY – APRIL 2019

IMPORTANT HIGHLIGHTS LAUNCH OF NEW WEBSITE

BOI launched a new website in April. Work on Investment Promotion Agencies having rich New website was carried out as per best User Interactive and User Experience with the practice and international standards after objective to provide maximum investor reviewing the websites of top International oriented information.

NEW INVESTMENT HANDBOOK

BOI is also working on new investment economy, frequently asked questions and other handbook for investors. The handbook relevant details. The material is also available contains important information on policies of on BOI's website. the Government, profiles of main sectors of

Page | 14 JANUARY – APRIL 2019

HIGHLIGHTS OF THE EoDB

HONORABLE PRIME MINISTER CHAIRS THE MEETINGS ON EASE OF DOING BUSINESS units of Doing Business at federal and provincial level.

Doing Business Initiative is one of the top priorities of the Another meeting in the same context was present Government. Prime Minister himself reviews the held on April 17, 2019 under the progress on regular basis. In this regard, two meetings Chairmanship of Prime Minister during have been held at Prime Minister's office during last which he emphasized on immediate reform months. Meeting was held on January 9, 2019, after actions for reduction of time for getting which various directives were issued by Prime Minister's electricity connections and for completing office for timely completion of the targeted reform actions documentary and border compliance in for each indictor. PM also directed to establish dedicated imports and exports.

WORLD BANK DB MISSION VISITS

World Bank Doing Business Team visited Pakistan contributors for all ten indicators. Key departments (Lahore and Karachi) on April 15-26, 2019 for data that met WB mission include SECP, FBR, NEPRA, LDA, collection and validation for Doing Business Report PLRA, SBCA, BOR LESCO, K-Electric, High Courts of 2020 to be published in October 2019. The mission Karachi and Lahore. BoIDoing Business team held several sessions with all stakeholders including facilitated mission for setting up of these sessions and federal and provincial Government departments and accompanied World Bank mission in their visit.

REVIEW MEETINGS

BoI being secretariat of the steering committee on indicators i.e., Enforcing Contracts, Getting Electricity Doing Business (DB) Reforms regularly monitors the and Trading Across Borders. progress of DB reforms undertaken by more than 30 agencies. In this regard, two review meetings were In order to keep up the pace for achieving targets, and held in BoI on January 8, 2019 under the chair of having a whole-of-the-Government approach for Executive Director General and on April 4, 2019 doing business reforms, Steering Committee on DB under the chairmanship of Advisor to PM on reforms has been reconstituted with the approval of Investment. Representatives from all concerned Prime Minister. It will help to coordinate efforts of the departments participated in the meetings and public and private sector initiatives for creating informed about progress for targeted reform actions enabling Business Environment in the country. Various in each indicator of World Bank's DB report. initiatives for Doing Business reforms are in process and will be launched soon. Some of them include; Besides these collective meetings, BoI also held · New website for DB several meetings with individual agencies i.e., M/o · Mobile app Law, NEPRA, K-Electric, LESCO, FBR and Port · DB strategy for the next 3 years. authorities etc for expediting reforms in the weak

Page | 15 JANUARY – APRIL 2019

WORLD BANK DB MISSION VISIT EoDB REFORMS UPDATE

Head Office: Ataturk Avenue, G-5/1, Islamabad. Board of Investment +92-51-922-4101, UAN: +92-51-111-776-348 Prime Minister's Office www.invest.gov.pk Islamabad - Pakistan @investinpak

Designed & Printed by: PARAS Enterprises 051-2871297

Page | 16