The Board of Investment (BOI) is planning to establish a new Japan Specific Special Economic Zone (SEZ).
This zone will have broad features and is likely to be built on one million acres of state land, available in Sindh. This was stated by the Board of Investment Chairman Saleem H Mandviwalla, while talking to the Japanese Ambassador to Pakistan Hiroshi Oe, who called on him and discussed investors’ issues.
The BOI chairman said that the location is advantageous as the proposed area and its vicinity has direct access to Port Qasim. This, he added, will allow for raw material import and finished goods export without major inland transportation costs.
Mandviwalla informed the ambassador that Yamaha is investing in automobile sector in Pakistan and President Asif Ali Zardari has promised lucrative incentives to Japanese investors during his visit to Japan. In progress to the project, he said that the land has already been allocated to Yamaha in Karachi (Port Qasim).
He further apprised the ambassador regarding BOI’s plan to establish a new Japan Specific Special Economic Zone. The chairman proposed construction of a separate road (worth Rs 1.2 billion) with support of JICA.
This, he said, will directly link Karachi with industrial areas, while security concerns for foreign investors will be addressed. In response to security issues in Pakistan, the chairman said that a high priority meeting, on countering lapses, is scheduled with CM Sindh, Secretary Sindh, security departments and Japanese investors.