Karachi: Karachi: According to news reports, the State Bank of Pakistan (SBP) announced in its report on Special Economic Zones (SEZs) on Thursday (November 25) that 70 firms were registered and granted active zone status in Pakistan in January 2021.
In comparison to the 200 firms registered in the previous eight years, this is the highest number of approvals sanctioned by the Board of Approvals. The creation of the Special Economic Zone Management Information System (SEZMIS), according to the report, has made it easier for the Board of Approvals (BOA) to register enterprises.
Foreign direct investment in SEZ increased to USD 646.6 million in the first five months of 2021, compared to USD 1,081.7 million in the preceding eight years, according to the report.
According to the study, the establishment of new industrial units has been made easier by the creation of an online system for purchasing land and tracking applications.
The study also looked at ways to improve the country’s current legislation on SEZ regulation and management, which would help increase the ease of doing business and attract more foreign direct investment. The SEZMIS is a management system developed and maintained by the Board of Investment (BoI) with the purpose of boosting business opportunities.