Korean investors assured of resolution of issues

Pakistan setting up special zones to promote industrialisation

APP May 23, 2024


Federal Minister for Industries and Production Rana Tanveer Hussain on Wednesday met South Korean Ambassador Park Ki Jun to discuss the deepening of bilateral cooperation between the two countries.

A delegation from leading South Korean companies also accompanied the ambassador, said a statement.

The minister said that both countries enjoyed historical and cordial relations and engaged in multifaceted bilateral cooperation in many areas including the economy and culture.

Matters of mutual interest, including partnerships and the challenges faced by Korean companies in Pakistan, came under discussion. The minister assured the delegation of prompt resolution of all pending matters.

He apprised the ambassador that Pakistan’s government had taken a number of steps to boost industrial activities and the overall economy of the country.

He said the government had announced the Automotive Industry Development and Export Plan (AIDEP 2021-26) under which a number of incentives had been offered for investment in the automobile sector.

As a result of the policy, 13 new manufacturers have started assembling renowned automobile brands in Pakistan.

He informed the delegation that the government was focusing on the establishment of industrial parks and Special Economic Zones to promote industrialisation.

Published in The Express Tribune, May 23rd, 2024.

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