The Chairman Pakistan Association of Automotive Parts and Accessories Manufacturers (PAAPAM) Mashood Ali Khan has said under new Automotive Development Policy (ADP 2016-21), lucrative incentives have been offered to the investors in the Greenfield investment category (new investment in vehicle manufacturing).
He was speaking at a seminar organised by Engineering Development Board (EDB) in collaboration with PAAPAM and Embassy of Pakistan in Berlin during the exhibition at Pakistan Pavilion in Hannover Messe. He highlighted the business potential in Pakistan and the incentives being offered to the new investors under different schemes of the government which include incentives under Special Economic Zones, National Industrial Parks and Export Processing Zones, a press release received here Friday said.
The investors appreciated the efforts of Pakistan government to attract investment in the country through the provision of incentives to vehicle manufacturers and ensured that they will soon plan to visit Pakistan to discuss the possibilities to do business in Pakistan. The commercial counsellor, Embassy of Pakistan in Berlin also expressed his views on the business opportunities available in Pakistan and appreciated the efforts of the EDB for organising one of the largest participation of engineering industry of Pakistan in this specialised international fair attracting investment in the engineering sector.
He welcomed the participants to discuss their plans for technology tie-ups/joint ventures with the management of the EDB/Ministry of Industries and Production who are working hard to uplift the various industrial sectors in the country. Approximately 30 industrialists from different countries mainly including China, Thailand, Hong Kong, Germany, France and Turkey attended the seminar.
The international visitors appreciated the ambience at Pakistan Pavilion and the hospitality they received. While visiting Pakistan Pavilion, the quality of engineering goods being manufactured by Pakistan was also admired. The participants showed interest in having business ties with Pakistani engineering companies in the form of joint venture agreements, technical collaborations and licensing agreements which is much needed in Pakistan.
