Lahore: Investors and manufacturers from Germany and Italy recently expressed their interest to invest in the Allama Iqbal Industrial City (AIIC) project in Faisalabad, a news source reported. The AIIC is a prioritised Special Economic Zone (SEZ) of the Faisalabad Industrial Estate Development & Management Company (FIEDMC). It is also part of the China-Pakistan Economic Corridor (CPEC) initiative.
FIEDMC Chairman Mian Kashif Ashfaq met with different
delegations of German and Italian investors during his ongoing tour to Europe. Highlighting
the scope of enhancing Pak-German bilateral trade relations, he stated that
German investors had shown a keen interest in Pakistan’s various sectors.
The chairman revealed that a delegation of German investors and manufacturers would soon visit Pakistan for exploring opportunities in the local market. He added that in this regard, FIEDMC would lend all the assistance required.
Ashfaq stated that Italian investors were also keen to
invest in the energy, hydropower, LPG, oil & gas, and various other sectors
of Pakistan. He opined that Italian investment was important for the country.
Further, he assured that FIEDMC would take all measures possible for
cooperation in this regard.
The FIEDMC chairman emphasised that they were following Prime Minister (PM) Imran Khan’s vision for promoting ease-of-doing-business in Punjab. He added that this in regard, FIEDMC was providing maximum number of facilities to both foreign and local manufacturers, along with offering necessary services to businesspersons under one roof.
Moreover, Ashfaq said that the government had exempted all
industries within the export processing zone from tax for a period of 10 years.
He added that these manufacturers would be able to import raw material,
machinery, plants and other equipment without paying duty on these products.
