Chinese delegation visits FIEDMC to explore investment opportunities

ISLAMABAD: A delegation of Chinese investors on Wednesday visited Allama Iqbal Industrial City, a prioritised project in the special economic zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC), to explore the business potential and investment opportunities in the area.

FIEDMC Chairman Mian Kashif Ashfaq and Chief Operating Officer (COO) Muhammad Aamer Saleemi received the delegation members and apprised them of the progress on development projects, according to a statement issued by FEIDMC.

Highlighting the projects under FIEDMC, Ashfaq said around Rs357 billion worth foreign and local investments would be injected into various development projects, which clearly indicates that investors have reposed complete confidence in the present regime.

“More than 25 Chinese companies have signed investment agreements in the industrial city,” he added.

Allama Iqbal Industrial City has been planned over an area of 4,000 acres, which is strategically located on M-4 Motorway near Sahianwala Interchange, Faisalabad.

Ashfaq informed the delegation that all industries within the export processing zone would be exempted from tax for a period of 10 years, while plants, machinery, raw material and other equipment would be imported duty-free.

Members of the Chinese delegation maintained that China and Pakistan were all-weather strategic partners and that their partnership was aimed at promoting peace, development and prosperity in the region.

They said the Chinese investors were confident about Pakistan’s economic potential and hoped that the economic relationship between the two countries would continue to reach new heights.

Later, the delegation visited different parts of Allama Iqbal Industrial City and expressed satisfaction over the pace with which the projects were being developed.

The FIEDMC chairman said that the importance of China Pakistan Economic Corridor as a strategic alternative was immense, leveraging economic opportunities that could unleash its strategic significance and bring prosperity, peace, as well as stability in the entire region.

Muhammad Aamer Saleemi apprised the delegation of FIEDMC’s commitment to improving Pakistan’s ease of doing business ranking to under 100 within two years so as to attract international investors to the country.

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