Germans and Italians investors show keen interest to invest in Allama Iqbal Industrial City

LAHORE :     German and Italian investors and manufacturers have evinced keen
interest to pump colossal investment in Allama Iqbal Industrial City, a prioritized Special
Economic Zone of Faisalabad Industrial Estate Development and Management Company
(FIEDMC) under CPEC.
This was disclosed by FIEDMC Chairman Mian Kashif Ashfaq on Wednesday during their on
going tour to Europe while talking to different delegations of Germans and Italians investors.
He further said there was a vast scope of enhancing Pak-German bilateral trade relations
whereas German investors were also taking keen interest to invest in various sectors in Pakistan
especially in FIEDMC. He said that investors and manufacturers’ delegation from Germany
would soon visit Pakistan to explore business opportunities in Pakistani market and FIEDMC
would provide them all required assistance in this regard.
He said that Germany was exporting modern machinery for textile especially for value added
textile sector which would help Pakistani textile manufacturers to bring improvement in quality
of their products and reduce cost of doing business. He said that Pakistani textile exports to
Germany had upward trend by 16 percent after Pakistan got GSP plus status.
Similarly, Mian Kashif said that the Italian investors are also keen to invest in various sectors
including LPG, energy, hydropower, mining, agriculture machinery, food processing,
automotive, telecommunication, oil & gas and marble sectors.
He was of the view that the Italian investment is important for Pakistan and assured to take
every possible measure for cooperation with the Italian investors.
Following the vision of Prime Minister Imran Khan, FIEDMC was extending maximum facilities
to the foreign and local manufacturers and providing all services to businessperson under one
roof for ease of doing business in the province, he said.
He further said all industries within the export processing zone would be exempted from tax for
a period of 10 years and plants, machinery, raw material and other equipment would be
imported duty-free.