Pak Investment

completed

This is a Four (4) year program financed by the Prosperity Fund of UK Foreign and Commonwealth Office, and implemented by the World Bank Group. The program is structured around three components as follows: Component 1: Strengthening Investment Policy framework This component will support Pakistan’s and Federal BOI’s strategic direction regarding FDI for the coming years. While the investment framework is generally open in Pakistan, there are regulatory obstacles related to investment entry requirements and investment guarantees. These barriers create procedural impediments to investors slowing down entry and impeding the creation of markets that can have a significant impact in terms of economic development for the country. Similarly, the 2013-2017 Investment strategy has expired and the BOI will develop a new strategic framework to guide its overall FDI policy and promotion efforts. This component will comprise of three related sub-parts: a) Development of an overarching strategic framework for investment b) Support for implementation of legal and regulatory reforms related to investment c) Support development of investment finance for the private sector Component 2: Strengthening Investment Attraction and Investment Assistance Framework Under this component the project will support the Federal BOI and provincial BOIs to strengthen their ability to provide services to investors and enhance the country’s external image and counter perceptions of conflict and insecurity. The project will support the Federal and Provincial BOIs to improve and better target their investment promotion activities and provide services to investors (investor aftercare). It will also strengthen the coordination between Federal and Provincial BOIs to ensure that investor needs are addressed and investment attraction strategies are implemented effectively. This component will support the development and implementation of an effective client management system and improved investment promotion materials, including support for investment promotion website. Component 3: Supporting Investment in Priority Sectors This component will support investments in priority sectors by conducting several in-depth diagnostics aimed at identifying opportunities for creating markets through FDI attraction. The program will conduct a sector scan which is designed to identify the priority sectors to guide Pakistan’s promotional efforts and to identify opportunities to create and develop new markets in the medium to long term. The sector scan will help evaluate the competitiveness for investment attraction of different economic sectors leveraging on private and public-sector inputs and existing data and studies. The sector scan will also identify regulatory constraints that affect Pakistan’s potential for creating markets and hamper sectoral competitiveness and FDI. This component will comprise of five related subparts: a) Developing sector targeted investment promotion plans b) Establishing a PPD platform with public and private representatives of priority sectors c) Recommendations on regulatory reform in priority sectors d) Encourage women employment and entrepreneurship in targeted sectors