ISLAMABAD – Turkish companies are keen to invest in Allama Iqbal IndustrialCity, a prioritized Special Economic Zone of Faisalabad Industrial EstateDevelopment and Management Company (FIEDMC) under CPEC relations throughexploring business potential and investment opportunities.
A Turkish delegation Tuesday visited the FIEDMC camp office and both sidesdiscussed issues for improvement in various sectors and projects,” said apress release issued here.FIEDMC Chairman Mian Kashif Ashfaq briefed the delegation and apprised themof the investment opportunities and incentive packages being offered to theinvestors.
He said on this occasion that the cordial relations between Turkey andPakistan should now be transformed into strong trade and economic ties andbelieved that both countries have immense potential to complement eachother in terms of bilateral trade. “But for this to happen, betterconnectivity between the private sectors of both countries is needed,” headded.
He said that the development work on Special Economic Zones includingAllama Iqbal Industrial City of FIEDMC is speedily being done whilegovernment was providing attractive incentives to investors for investingin SEZs.
He said that it was right time for Turkish investors to explore jointventures and investment in SEZs in gems and jewelry, pharmaceutical,marble, auto and health sectors.
Mian Kashif Ashfaq said FIEDMC, following the vision of Prime MinisterImran Khan, was extending maximum facilities to the foreign and localmanufacturers and providing all services to businessmen under one roof forease of doing business in the province.He said all industries within the export processing zone would be exemptedfrom tax for a period of 10 years and plants, machinery, raw material andother equipment would be imported duty-free.
He said that around Rs 400 billion foreign and local investments would beinjected into various projects, which clearly indicate that investors hadreposed complete confidence in the present regime. “Like many othercountries, more than 25 Chinese companies had made agreements forinvestments in the industrial city,” he added.
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The delegation members said that they considered Pakistan as their seconddestination and wanted to establish business partnerships in automobile,IT, home appliances, education and other fields.
They said that Pakistan and Turkey have great potential to enhancecooperation in many areas and stressed that both countries should establishstrong linkages between their private sectors to explore all potentialareas of mutual cooperation.
They said that their purpose of visiting Pakistan was to study its marketand find out local partners. They said that Turkey could cooperate withPakistan in many fields and hoped that their current visit would be helpfulin further improving bilateral trade and economic relations between the twocountries.
Later, the delegation visited different parts of industrial city andexpressed their satisfaction over the pace of development of variousongoing projects.
