ISLAMABAD: Pakistan plans to establish 35 special economic zones (SEZs) to facilitate businesses and industry, officials said on Friday, amid Islamabad’s efforts to boost foreign investment.
The statement came at a meeting of Board of Investment (BOI) officials, presided over by Prime Minister Shehbaz Sharif, to review progress of various ongoing projects, according to Sharif’s office.
Officials briefed the prime minister that they had conducted a survey of the 35 SEZs under the Geographical Information System (GIS) and had extensive data to accelerate the progress of projects in these zones.
More than 200 business-to-business (B2B) agreements have been reached with several Chinese companies and memorandums of understanding (MoUs) worth $70 million have been signed, they added.
“Work on regulatory reforms should be accelerated to provide a conducive environment for business in the country,” Sharif was quoted as saying by his office.
“An effective and comprehensive roadmap should be created for the completion of B2B agreements with international investors and the implementation of signed memorandums of understanding.”
Pakistan, which has been facing an economic crisis, has been making attempts to boost foreign direct investment in a bid to support its $350 billion fragile economy, with Islamabad seeing a flurry of high-level exchanges with China, Saudi Arabia, Japan, Tajikistan, Azerbaijan, Qatar and other countries in recent months.
During the BOI meeting, PM Sharif instructed officials to set investment targets that could be achieved at the earliest.
“Effective marketing of investment opportunities in Pakistan is essential to attract foreign investors,” he said. “Construction of business facilitation centers, organization of road shows and other such measures are very important to bring foreign investment to the country.
Pakistan plans to set up 35 special economic zones to facilitate businesses, industry
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Pakistan plans to set up 35 special economic zones to facilitate businesses, industry
- Pakistani officials say over 200 B2B agreements reached with several Chinese companies, signed MoUs worth $70 million
- PM Shehbaz Sharif calls for accelerating work on regulatory reforms to provide a conducive environment for businesses
Putin calls Russia’s ties with Pakistan ‘mutually beneficial’
- The Russian President mentions the ties as Pakistan’s new envoy presents his credentials in Moscow
- Pakistan and Russia have strengthened relations in recent years, expanding cooperation in key sectors
ISLAMABAD: Russian President Vladimir Putin has described relations with Pakistan as “mutually beneficial,” according to a social media post by his country’s embassy in Pakistan on Friday, as he met newly appointed Pakistani ambassador Faisal Niaz Tirmizi during a credentials ceremony in Moscow.
Pakistan and Russia have steadily strengthened bilateral ties in recent years while working to further expand cooperation in trade, investment, energy and connectivity.
“We maintain close cooperation with Pakistan, a full member of the Shanghai Cooperation Organization, the largest regional organization in terms of economic, technological, and human potential,” Putin was quoted as saying in a post on X. “Russia
Pakistan relations are genuinely mutually beneficial.”
In recent years, Pakistan and Russia have pledged to deepen economic ties, explore barter trade and energy deals, and boost people-to-people contacts. High-level visits have also taken place between officials of both countries, highlighting interest in expanding cooperation in technology, agriculture and transport.
Last December, Pakistan Finance Minister Muhammad Aurangzeb said Russia and Pakistan were in talks on a potential oil-sector agreement.
Earlier, in May, Pakistan and Russia agreed to establish a steel mill in Karachi, aiming to boost bilateral ties and expand industrial collaboration.
The two countries are also working on the Pakistan Stream Gas Pipeline, a major infrastructure project aimed at transporting imported gas from Karachi to Punjab to help meet Pakistan’s energy needs.
In 2023, Pakistan and Russia also discussed a deal for the delivery of Russian crude to Pakistan, and talks have continued on broader energy partnerships.
