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.