Chinese delegation visits Allama Iqbal Industrial City

Meets FIEDMC officials to discuss issues for improvement in various sectors

ISLAMABAD: A delegation of Chinese investors visited the Allama Iqbal Industrial City, a mega prioritised project of the Faisalabad Industrial Estate Development and Management Company (FIEDMC) under the China-Pakistan Economic Corridor (CPEC), to strengthen bilateral trade relations through exploring business potential and investment opportunities.

The Chinese officials met with FIEDMC Chairman Mian Kashif Ashfaq, along with other officials, and discussed issues for improvement in various sectors and projects.

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

“More than 25 Chinese companies made agreements for investments in the industrial city,” he added.

He said that the industrial city has been planned over an area of 4,000 acres, which is strategically located on the M-4 motorway near Sahianwala Interchange, Faisalabad. The chairman further added that all industries within the export processing zone shall be exempted from tax for a period of 10 years, and plants, machinery, raw materials and other equipment will be imported duty-free.

Representatives of the Chinese delegation said that 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 stressed that the Chinese investors were confident about Pakistan’s economic potential and hoped that the economic relationship between the two countries would reach new heights.

Published in The Express Tribune, December 26^th, 2019.

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