ISLAMABAD: US entrepreneurs have shown a keen interest to invest in theChina Pakistan Economic Corridor’s first Special Economic Zone (SEZ) – theAllama Iqbal Industrial City – due to its immense market potential andimproved governance in the country.
“There is a huge potential in Pakistan’s agriculture, livestock, and foodprocessing & seafood sectors for US companies, and the US businessmen areready to explore the new investment-friendly business environment offeredby the zone,” Pakistan American Business Forum (PBAF) President RiazHussain said while talking to Faisalabad Industrial Estate Development &Management Company (FIEDMC) Chairman Mian Kashif Ashfaq on Tuesday.
The Allama Iqbal Industrial City is a prioritised SEZ of FIEDMC.
The major purpose of the meeting was to provide an opportunity to exchangeviews and identify trade areas where investment can be pumped.
Mian Kashif Ashfaq briefed the delegation on the investment opportunitiesand incentive packages being offered to the investors.
He said that FIEDMC, following the vision of Prime Minister Imran Khan, wasextending maximum facilities to the foreign and local manufacturers,besides providing all services to businessperson under one roof to ensure‘ease of doing business’ in the province.
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He further said that all industries within the export processing zone wouldbe exempted from tax for a period of 10 years, adding that plants,machinery, raw material and other equipment would be imported duty-free.
Ashfaq said that around Rs400 billion foreign and local investments wouldbe injected into various projects of FIEDMC, which clearly indicates thatthe investors have reposed complete confidence in the present regime.
“More than 25 Chinese companies had made agreements for investments in theindustrial city,” he stated. “The US had titled 2020 as ‘Partners forProsperity’ year, which can only be materialized once we have an increasein people-to-people contact. Also, cooperation with key organizations inboth countries to ensure cohesive and coordinated strategies in promotingUS private sector interests in Pakistan must also be ensured.”
