Islamabad, Jan 23: The government is poised to launch an innovative investment promotion strategy, spearheaded by the collaboration between the National Institute of Public Administration (NIPA) and the Pakistan Administrative Staff College. This strategic move aims to boost industrial investment and spur economic growth across the region.
Central to this initiative is the introduction of the Special Investment Facilitation Center (SIFC), which will establish cutting-edge “Business Facilitation Centers.” These centers are designed to simplify and expedite the investment process, making it easier to attract and retain both domestic and international investors.
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The strategy outlines several critical actions:
- Formation of joint working groups to increase investment inflows from within the country and abroad.
- Development of a clear and actionable plan to dismantle obstacles hindering industrial development.
- Implementation of a novel framework to streamline the execution of industrial projects.
- Objectives to elevate Pakistan’s position in the global business community by 50 ranks.
- Ambitious goals to secure $20 billion in foreign industrial investments within the next five years.
A key component of this strategy is its emphasis on digital transformation. This digital shift aims to enhance transparency and efficiency in the investment process. The SIFC is dedicated to fostering a supportive environment for investors by reducing bureaucratic red tape and offering strategic assistance when needed.
In addition, ongoing research conducted by national administrative officers is integral to this initiative. These efforts focus on pinpointing and resolving potential impediments to investment. A specialized research team is tasked with crafting a detailed strategy to surmount these challenges and propel industrial growth forward. This holistic approach ensures a robust and dynamic economic development strategy, poised to transform the investment landscape in Pakistan.
