BOI launches portal for foreign investment in housing sector

ISLAMABAD: Board of Investment (BOI) has launched a portal for investment opportunities in the housing sector on its website to facilitate foreign companies interested in making investments in low-cost schemes and providing an effective one-stop shop solution.

A simple ceremony for the portal launching was attended by Chairman BOI Atif Bokhari, Chairman Naya Pakistan Housing and Development Authority (NPHDA) Lt General Anwar Ali Haider, Secretary BOI Omer Rasul and other senior officers.

Chairman BOI appreciated the support provided by NPHDA enabling them to work in close coordination and develop the portal in accordance with the requirements.

Executive Director General (EDG) BOI, Mukarram Jah Ansari, made a brief presentation about the portal. He said the BOI envisions making it easier for the businessmen to receive all the required information and go through the registration processes without any hassle.

He said that the portal is linking the foreign investors with all relevant government organizations at federal and provincial levels, including BOI for work visas and other services and Ministry of Interior for overall visa procedures.

The State Bank of Pakistan will be inked for relevant rules and regulations for foreign investors, Securities and Exchange Commission of Pakistan for company registration, Federal Board of Revenue for tax registration and Pakistan Engineering Council for required certifications.

He further highlighted that incentives given to investors in housing and construction sector as well as other relevant information has been made available under the portal.

BOI has been assigned the responsibility to act as focal point of contact linked through a ‘portal’ with various relevant ministries and organisations for the assistance of foreign companies and businessmen.

Chairman NPHDA appreciated the efforts made by BOI in development of the portal for facilitation of foreign investors interested in housing and construction projects.

Chairman BOI directed his team to continue making improvements in the services and accessibility for maximum facilitation of the investors.