Germans And Italians Investors Show Keen Interest To Invest In Allama Iqbal Industrial City

Germans and  Italians investors show keen interest to invest in Allama Iqbal Industrial  City

German and Italian investors and manufacturers have evinced keeninterest to pump colossal investment in Allama Iqbal Industrial City, a prioritized SpecialEconomic Zone of Faisalabad Industrial Estate Development and Management Company(FIEDMC) under CPEC.This was disclosed by FIEDMC Chairman Mian Kashif Ashfaq on Wednesday during their ongoing tour to Europe while talking to different delegations of Germans and Italians investors

Islamabad (Pakistan Point News / Online - 12th February, 2020) German and Italian investors and manufacturers have evinced keeninterest to pump colossal investment in Allama Iqbal Industrial City, a prioritized Special Economic Zone of Faisalabad Industrial Estate Development and Management Company(FIEDMC) under CPEC.This was disclosed by FIEDMC Chairman Mian Kashif Ashfaq on Wednesday during their ongoing tour to Europe while talking to different delegations of Germans and Italians investors.

He further said there was a vast scope of enhancing Pak-German bilateral trade relationswhereas German investors were also taking keen interest to invest in various sectors in Pakistanespecially in FIEDMC. He said that investors and manufacturers' delegation from Germanywould soon visit Pakistan to explore business opportunities in Pakistani market and FIEDMCwould provide them all required assistance in this regard.He said that Germany was exporting modern machinery for textile especially for value addedtextile sector which would help Pakistani textile manufacturers to bring improvement in qualityof their products and reduce cost of doing business.

He said that Pakistani textile exports toGermany had upward trend by 16 percent after Pakistan got GSP plus status.Similarly, Mian Kashif said that the Italian investors are also keen to invest in various sectorsincluding LPG, energy, hydropower, mining, agriculture machinery, food processing,automotive, telecommunication, oil & gas and marble sectors.He was of the view that the Italian investment is important for Pakistan and assured to takeevery possible measure for cooperation with the Italian investors.

Following the vision of Prime Minister Imran Khan, FIEDMC was extending maximum facilitiesto the foreign and local manufacturers and providing all services to businessperson under oneroof for ease of doing business in the province, he said.He further said all industries within the export processing zone would be exempted from tax fora period of 10 years and plants, machinery, raw material and other equipment would beimported duty-free.