Aug 12, 2022: The Investment Policy 2022 recommendations primarily focused on performance-based incentives for investors to allocate resources optimally and were shared with the Board of Investment (BoI). The OICCI recommendations focused on certain sections of the Policy where some necessary interventions were required to guarantee effective implementation of the Policy in true spirit.

1. The over-arching strategy needs to be strengthened with a defined timeline of policy implementation, emphasis on technology transfer, and by committing to bring talent and labor skill on par with regional counterparts.
2. Incentives have been suggested which we found missing from the document. Without specific incentives listed in the policy, we believe, potential investor interest may not be high especially considering challenging operation conditions in the country. We have recommended some fiscal as well as non-fiscal incentives (such as improvement of Ease of Doing Business measures and improvement in regulatory procedures).
3. Performance measures have not been laid down or defined. We have suggested a few performance-based measures, including export to revenue ratio, investments over a certain amount, etc. We recommend that these may be fixed for a committed period to improve transparency.