The Balochistan government is working on a policy to attract foreign and local investment in diverse fields of its provincial economy, reports WealthPK. “The Balochistan Board of Investment and Trade (BBoIT) is mandated to support investment facilitation, procedural administration and stakeholder coordination among various government and private sector institutions,” Rajab Rind, Director of Policy Implementation Wing, told WealthPK. He said it had now become a mission of the BBoIT to remove entry barriers, enhance ease of doing business operations and bring continuous improvement in the investment climate of the province by providing myriad services ranging from pre-project planning to risk management and ensuring legal and regulatory compliances for smooth execution and sustainable development model. As a part of the same mission, the BBoIT is carrying out the cumbersome task of mapping as well as automating the legal, financial and procedural requirements related to investment in the province, which will be readily available to investors and create an enabling environment for investment.

Balochistan offers diverse business, trade and investment opportunities, specifically in the fields of mining, renewable energy, oil and gas exploration, agriculture, livestock, fisheries, food processing, logistics, coastal development and tourism. “The provincial government is committed to creating a win-win situation by evolving a conducive policy environment that provides incentives and security to local and foreign investors. This will allow them to reap the benefits of available investment potential in each sector of the province through projects that result in sustainable socio-economic development of the province,” Deputy Secretary of Investment Department Munawar Baloch said. “We are confident of demonstrating a pro-active service delivery for all investors by ensuring smooth coordination with multiple agencies to facilitate investments,” he said. The industrial sector is mainly concentrated in Hub, Winder, Gaddani and Quetta. The provincial government is working on two special economic zones (SEZs), one each in Hub and Bostan, aimed at attracting investors to construct factories in the areas.

A number of applications have also been received from the private sector for development of sector-specific SEZs. The government also intends to set up industrial estates in Khuzdar, Turbat, and Pasni aimed at providing job opportunities to local people, he said. He said the mineral resources of the province were abundant to provide countless opportunities for foreign investors to reap benefits. High quality mineral deposits have been discovered in many regions of Balochistan such as Reko Diq, Saindak and Duddar. The export processing zones for the mineral sector are in Saindak, Chaghi, and Duddar district, Lasbela. A marble city is also operational in Hub. He said investment opportunities were also available in fish processing plants, fish storage, warehousing and logistics, upgradation of boats, construction of jetties, establishment of training institutes, and development of fish hatchery as well as tourism.

Credit: Independent News Pakistan (INP)