Board of Investment Chairman Saleem H Mandviwala says the approval of Special Economic Zone Bill by the parliament will attract foreign direct investment and encourage local investors. Addressing a press conference‚ he said the Bill has been enacted to meet the global challenge of competitiveness. He said the law will ensure consistency and transparency in economic policies and restore the confidence of investors. Mandviwala said the special economic zones would have exemption from custom duties and taxes for all capital goods imported for the development‚ operations and maintenance of a zone. He disclosed that some of the investor countries like Korea‚ China and Japan are expecting to benefit from the scheme as soon as it became operational.
