The Pakistan Investment Policy 2023 introduces several reforms to attract foreign investors
07 Jul 2023
On 7 July 2023, the Government of Pakistan approved the Pakistan Investment Policy (PIP) 2023 to enhance foreign and domestic investments. The policy aims to:
1. Support sustainable and inclusive growth, industry innovation, and infrastructure development, aligning with Pakistan's SDG commitments. Encourage investors to bridge the gender gap and adopt inclusive responsible business practices.
2. Enhance high-quality, export-oriented, and import-substituting FDI to improve the balance of payments, create high-quality jobs, reduce income gaps, and balance regional development.
3. Attract sustainable FDI with an innovative, aggressive investment policy, transforming the business environment with efficient, transparent, and integrated services, and increase the investment-to-GDP ratio from 15% to 20%.
Building on the 2013 policy, PIP 2023 aims to further enhance the investment climate and strengthen investor protection by:
• Improving the business climate through regulatory easing and coordinated reforms.
• Boosting investment promotion with strategies, sector identification, missions, and economic diplomacy.
• Enhancing investor retention and facilitation with tools like 24/7 front-desk support, the SEZ portal, and the Investment Grievance Redressal system, along with simplified tax policies and enforced intellectual property rights.
• Strengthening investor protection by adopting a new Foreign Investment Law, improved dispute resolution, and new international investment agreements.
• Shifting the investment focus to high-quality, export-oriented, and import-substituting investments.
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Type:
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Treatment and operation (Non-discrimination, Dispute settlement)
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Promotion and facilitation (Investment facilitation , Investment incentives)
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Industry:
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