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ESCAP-BOI regional meet recommends

BOI network should promote relocation of industries
The ESCAP-BOI regional meeting recommended that the network of Board of Investment (BOI) in Asia and the Pacific region should design its activities in a manner to promote industrial relocation and utilisation of industrial complementarities. reports BSS.
The ongoing industrial relocation process was making a significant contribution to the industrial development of the countries and strengthening the fundamentals in sustaining the region's dynamism." said the ESCAP-BOI recommendations adopted in the concluding session of its first regional network meeting yesterday.
Thirty-four participants from nine regional countries including Bangladesh. China. Indonesia. Malaysia. Nepal. Philippines. Republic of Korea and Vietnam attended the three-day meeting held in the city
The meeting in its recommendations observed that industrial relocation and utilisation of industrial complemen
tarities along the sub-groups of countries held a great promise in reshaping the industrial scene in the region.
It also recommended that the network could be used by one BOI to request another BOI for identifying selected groups of investors who would be willing to relocate their industries abroad — such as textiles, garments. leather, electronics components and parts and food
processing.
The meeting recommended that the regional network should assist the countries in benefiting from emerging new production processes.
It recommended that ESCAP should mobilise extra-budgetary resources to undertake activities of the regional network.
The meeting said that the regional network should aggressively promote dissemination of information on investment opportunities and specific in-vestors/manufacturers who were seeking investment collaboration in the developing countries.
It recommended that, where relevant, the national BOIs should be further strengthened to perform their promotional role. In this regard, the meeting recommended that resources should be made available to the national BOis to upgrade their technical and managerial capability in providing their services.
The meeting also recommended the establishment of a technology bank under the auspices of the regional network. and facilitate linkage between advanced developing countries and technologically lagging developing countries.
It recommended that the network should assist in creating the environment and provide specific guidance to national BOIs in overcoming the regulatory administrative bottlenecks.
The meeting noted with concern that the lack of inter-ministerial and inter-departmental coordination greatly hampered the performance of the national BOIs.