Lahore: The Punjab Industrial Estates Development & Management Company (PIEDMC) has asked local and foreign investors to develop factories in four special economic zones (SEZs) of the province, a news source reported. As per the publication, these facilities are being set up to boost local production and to increase the country’s export volume.
PIEDMC Chief Executive Officer (CEO) Muhammad Javed Ilyas expressed his views on the matter during a meeting with office-bearers of the Lahore Chamber of Commerce & Industry (LCCI).
He stated that the SEZs would attract investment in industrial infrastructure, connect local firms with global value chains, produce employment opportunities, and enhance export-oriented growth.
The zones will facilitate the overall investment atmosphere, transfer technology to local economies, streamline administrative procedures, and reduce transaction costs for foreign direct investment (FDI), he added.
He further informed the LCCI representatives that the SEZs were located in close proximity to motorways and would provide employment to 450,000 skilled workers and about two million unskilled workers. Additionally, they will improve trade balance through exports and increase tax revenue and GDP.
He further stated that
the Quaid-e-Azam Business Park (QABP) would be developed on 1,536 acres, Bhalwal SEZ on
427 acres, Vehari SEZ on 250 acres, and Rahim Yar Khan SEZ on 456 acres of
land.
