Turkey is looking forward 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.
According to APP press release, a Turkish delegation visited the FIEDMC camp office and both sides discussed issues for improvement in various sectors and projects.
Mian Kashif Ashfaq, FIEDMC Chairman, informed the delegation of the investment opportunities and incentive packages being offered to the investors.
He further commented 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.
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.
The delegation members also shared their keenness to establish business partnerships in automobile, IT, home appliances, education and other fields.
