Ahmed Khan Malik

Sindh Enterprise Development Fund (SEDF) has chalked out a policy for profitability in various sectors of the economy, which remain largely untapped so far, reports WealthPK.

Jan Muhammad Shah, Director of the Finance Department in Sindh, told WealthPK that under this policy, a strategic framework will be developed to implement the federal government’s investment policy in the province. The plans will aim to enhance the global competitiveness of the province and its businesses, attract new investments, and strengthen existing ones by promoting local investment opportunities.

The framework will also facilitate business and highlight the distinct advantages of the province as a business location. Under the policy, the provincial government will assist foreign companies looking to invest in the manufacturing and services sectors. They will provide investment opportunities, facilitate local joint ventures, and coordinate with federal ministries, provincial government departments, and agencies on investment-related matters and facilitation within the province.

Jan also listed liaising with investors to support and protect their legitimate business interests and coordinating with representative trade and industry bodies on behalf of the government in relation to investment in the province. He said the policy will also review and suggest revisions to procedural and regulatory framework related to trade and industrial activities in the province, aiming to increase the ease of doing business and improve investor confidence.

Alternative dispute resolution for investment-related cases is another key area of the policy. He said the policy will also establish a platform for public-private partnerships and a one-window operation to facilitate local and foreign investors seeking land allocations, approvals, concessions, facilities, and support from provincial departments and agencies. Jan highlighted additional features, such as developing a marketing, image-building and public relations strategy to generate interest in Sindh’s potential and opportunities, attract investments, publicize activities, and organize investment promotion efforts.

This includes promoting the province’s image and disseminating information about federal and provincial government facilities, incentives, and programs. Under this policy, the provincial government will arrange and participate in local and international seminars, trade fairs, and exhibitions in coordination with the Federal Board of Investment (BoI) of Pakistan, provincial departments, trade bodies and stakeholders. The policy will also identify, support, develop, and regulate special economic and socio-economic zones in the province.

It will assist government departments in preparing relevant informational materials, developing and maintaining databases of investment projects involving local and foreign capital, and conducting research through expert bodies and consultants to study various aspects of attracting investment and improving the investment climate, procedures, and other related matters.

Credit: INP-WealthPk