Pakistan: Turkish companies keen to invest in Allama Iqbal Industrial City

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Turkish companies are keen to invest in Allama Iqbal Industrial City, a prioritized Special Economic Zone of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under CPEC relations through exploring business potential and investment opportunities.

A Turkish delegation Tuesday visited the FIEDMC camp office and both sides discussed issues for improvement in various sectors and projects,” said a press release issued here.
FIEDMC Chairman Mian Kashif Ashfaq briefed the delegation and apprised them of the investment opportunities and incentive packages being offered to the investors.

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He said on this occasion that the cordial relations between Turkey and Pakistan should now be transformed into strong trade and economic ties and believed that both countries have immense potential to complement each other in terms of bilateral trade. “But for this to happen, better connectivity between the private sectors of both countries is needed,” he added.

He said that the development work on Special Economic Zones including Allama Iqbal Industrial City of FIEDMC is speedily being done while government was providing attractive incentives to investors for investing in SEZs.

He said that it was right time for Turkish investors to explore joint ventures and investment in SEZs in gems and jewelry, pharmaceutical, marble, auto and health sectors.

Mian Kashif Ashfaq said FIEDMC, following the vision of Prime Minister Imran Khan, was extending maximum facilities to the foreign and local manufacturers and providing all services to businessmen under one roof for ease of doing business in the province.
He 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.