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July 09, 2023: National Current Affairs MCQs News
1. Govt okays policy to woo foreign investors
• In a move to boost foreign and domestic investments, the government has approved a new investment policy for 2023 to attract investors by adopting best practices and providing an optimal investment climate.
• The policy was created in accordance with Prime Minister Shehbaz Sharif`s formation of the Special Investment Facilitation Council, an apex body that includes the army chief and provincial chief ministers. The council`s goal is to facilitate foreign investment and remove obstacles that hinder investment inflows.
• The Pakistan Investment Policy (PIP) 2023 has been given the go-ahead by the federal cabinet through the circulation of a summary. It is anticipated that the new policy will attract $20-25 billion in investment over the next few years
2. After oil, more goods start arriving from Russia
• At least two cargo containers loaded with pulses and other goods arrived at Torkham late on Friday from Russia under the Transport International Route (TIR) agreement.
• Officials said that the consignment, the first of its type, was part of the TIR bilateral trade treaty signed with Russia in March this year during the Moscow visit of Federal Minister for Communication A sad Mehmood.
• They said that with the signing of the agreement and the arrival of the first consignment, the two countries were now formally linked through bilateral trade
3. Undue `screening` hurting global foreign direct investments: UNCTAD
• The United Nations Conference on Trade and Development (UNCTAD) says the number of countries conducting foreign direct investment (FDI) screening on national security grounds has increased to 37 in 2022.
• The introduction or tightening of national security regulations affecting FDI represented almost half of the policy measures less favourable to investment, cautioned the World Investment Report 2023 released by UNCTAD.
• Most of these measures were introduced by developed countries. In total, countries with FDI screening regimes accounted for 68 per cent of FDI stock in 2022. The number of merger and acquisition (M&A) deals withdrawn because of regulatory or political concerns increased by a third, the UNCTAD report says
4. Global agriculture to rise at a slower pace: report
• Global agricultural and food production are projected to continue to increase over the next10 years, but at a slower pace of growth than the previous decade due to demographic trends, says a report jointly released on Thursday by the Food and Agriculture Organisation of the United Nations and the Organisation for Economic Cooperation and Development (OECD).
• The report titled, `ECD-FAO Agricultural Outlook 2023-2032`, being the key global reference for medium term prospects for agricultural commodity markets, says while uncertainty has risen due to geopolitical tensions, adverse climate trends, animal and plant diseases and increased price volatility for key agricultural inputs, global production of crops, livestock products and fish are projected to grow at an average annual rate of 1.1 per cent during the period, half the pace recorded in the decade ending in 2015
5. Switzerland to help improve response to natural disasters
• Pakistan and Switzerland on Saturday signed a memorandum of understanding aimed at preventing natural disasters and improving response to them in Pakistan.
• The MoU was signed by Swiss Foreign Minister Ignazio Cassis and National Disaster Management Authority Chairman Lt Gen Inam Haider Malik at a programme held in Nathiagali in the presence of Prime Minister Shehbaz Sharif.
• The MoU envisaged bilateral cooperation in disaster risk management including preparedness, response and recovery aimed at reducing the adverse impact on people and national economy
