LAHORE: A high-level Chinese investors delegation Wednesday
visited Allama Iqbal Industrial City, a mega prioritized project of Special Economic
Zone (SEZ) of Faisalabad Industrial Estate Development and Management
Company (FIEDMC) under CPEC to strengthen bilateral trade relations through
exploring business potential and investment opportunities.
Mian Kashif Ashfaq, chairman FIEDMC and Muhammad Aamer Saleemi chief
operating Officer received the delegation and apprised them of the development
of the project. Both the sides discussed issues for improvement in various sectors
and projects.
Highlighting the development projects of FIEDMC, Mian Kashif Ashfaq said that
around Rs357 billion foreign and local investments will be injected into various
projects, which clearly indicates that investors have reposed complete confidence
in the present regime. “More than 25 Chinese companies had made agreements
for investments in the industrial city,” he added
He said that Allama Iqbal Industrial City has been planned over an area of 4000
acres, which is strategically located on Motorway M-4 near Sahianwala
Interchange, Faisalabad.
He further said all industries within the export processing zone will be exempted
from tax for a period of 10 years and plants, machinery, raw material and other
equipment will be imported duty-free.
Representatives of the Chinese delegation said Pakistan and China were all-
weather strategic co-operative partners and their partnership was aimed at
promoting peace, development and prosperity in the region.
They also emphasized that the special relationship between the two countries was
reflected in expression of warmth by the Chinese people towards Pakistan at
every occasion.
They stressed that the Chinese investors were confident about Pakistan’s
economic potential and hoped that the economic relationship between the two
countries would reach the level of their excellence.
Later, the delegation visited different parts of Allama Iqbal Industrial City and
expressed their satisfaction over the pace of development of various ongoing
projects.
