Pakistan unveils SIFC Visa to facilitate foreign investment

THE Executive Committee of the Special Investment Facilitation Council Pakistan recently approved the creation of a SIFC visato encourage foreign investors to set up in Pakistan. This decision represents a major step forward in the creation of an environment conducive to business and investment.

Implementing the SIFC visa

Following approval by the Executive Committee chaired by the Minister of Planning and Development Muhammad Sami SaeedSIFC visas will now be issued to those concerned within 24 hours, and will be valid for between 6 months and 5 years. Extensions of these visas can be obtained for up to 2 years, with a processing time of 2 weeks. The aim of this measure is to speed up the process and attract more foreign investors to Pakistan.

The role of the Special Investment Facilitation Council (SIFC)

Founded last June, the SIFC is a hybrid civil-military body whose main objective is to promote business opportunities in various sectors such as agriculture, mining, information technology and defense. At its last meeting, the committee welcomed the progress made in various fields and the level of economic relations with certain countries, notably the United Arab Emirates and Kuwait.

The ministries concerned presented progress reports on their projects, as well as measures to improve the country's business and investment climate. Other topics discussed at the meeting included the establishment of economic zones and ways of improving industrial development nationwide..

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