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SBP Report: 70 New Firms Get Active Status in SEZ’s Countrywide

Karachi: According to news sources, the State Bank of Pakistan (SBP) stated in its report on Special Economic Zones (SEZs) that 70 businesses were registered and given active zone status in the nation in January 2021.

Read: Legal Housing Societies in Islamabad and Rawalpindi 2022

Considering the 200 firms registered in the previous eight years, this is the most approvals the Board of Approvals has authorized. The creation of the Special Economic Zone Management Information System (SEZMIS), according to the report, has made it simpler for the Board of Approvals (BOA) to register businesses.

Additionally, it was revealed that FDI in SEZ increased to USD 646.6 million in the first five months of 2021 from USD 1,081.7 million during the preceding eight years.

According to the study, the establishment of new industrial units has been simplified by the implementation of an online system for obtaining land and monitoring applications.

Read: Everything You Need to Know About Land Information Management Systems

The study also covered the potential for reforming the country’s current legislation governing SEZ management and regulation, which would help make doing business easier and draw in more FDI.

The Board of Investment (BoI) developed and maintains the SEZMIS management system with the aim of enhancing business opportunities.

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