ISLAMABAD – Top western country United States expresses keen interest in Rs400 billion mega CPEC project.
US-based entrepreneurs are keen to invest in Allama Iqbal Industrial City,a special economic zone (SEZ) of Faisalabad Industrial Estate Developmentand Management Company (FIEDMC) under CPEC.
This is thanks to the immense market potential of the country and improvedgovernance, read the press statement.
A delegation of US-based businessmen led by Pakistan American BusinessForum (PBAF) President Riaz Hussain called on FIEDMC Chairman Mian KashifAshfaq and expressed their interest to explore the new investment-friendlybusiness environment offered by FIEDMC.
The main purpose of the meeting was to provide an opportunity to exchangeviews and identify the areas for trade and investment.
Ashfaq briefed the delegation about the opportunities and incentives beingoffered to investors.
Following the vision of Prime Minister Imran Khan, FIEDMC has extendedseveral facilities to the foreign and local manufacturers and providing allservices to businessperson under one roof for ease of doing business in theprovince, he said.
It is worth mentioning that the industries within the export processingzone will be exempted from tax for a period of 10 years and plants,machinery, raw material, and other equipment will be imported duty-free.
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Around Rs. 400 billion foreign and local investment will be injected intovarious projects, which clearly indicates that investors have reposedcomplete confidence in the present regime.
Mian Kashif stated:
The US has titled 2020 as Partners for Prosperity Year, which can only bematerialized once we have an increase in people to people contact. Also,enhance cooperation with key organizations in both countries to ensurecohesive and coordinated strategies in promoting U.S private sectorinterests in Pakistan.
PBAF President Riaz Hussain highlighted the key objective of the forum withrespect to Pakistan and US trade relations saying:
It was a great opportunity to build our relations and US-Pak traderelations are reflecting positive figures. Pakistani exports to the USincreased by 6 percent in 2019 as compared to the same period of last yearand in 2018 the two-way trade stood at $6.6 billion.
