UK investors are ready to join CPEC

Faisalabad (UrduPoint / Pakistan Point News / Online – 15th February, 2020) Faisalabad Industrial Estate Development and Management Company(FIEDMC) Chairman Mian Kashif Ashfaq Saturday said the government is working on multiple fronts to enter into new markets in order to boost exports in post-Brexit scenario and leading trade organisations and Pakistani entrepreneurs both in Britain and Pakistan see this as an exciting time for the Pak-UK trade and economic partnership to be taken to a new level. He expressed these views while talking to delegation of UK-based investors during leg of FIEDMC tour to Europe and these foreign investors are keen to invest in Allama Iqbal Industrial City, a prioritized Special Economic Zone of FIEDMC under CPEC. ”To fully capitalise on these opportunities, British firms would like to see further progress in reducing corporate tax rates, data privacy and ease of doing business indicators.
If these steps are taken, and the UK maintains an active strategy for engagement and interaction with the Pakistani economy at all levels, it will remain a significant partner in Pakistan‘s future growth story,” he pointed out. He further said that “the China-Pakistan Economic Corridor (CPEC) and Brexit are two important developments, and as the global economic gravity shifts towards Asia, Pakistan is opening new vistas of business opportunities to the advantage of the people in both countries. Mian Kashif said the United Kingdom is the third largest investor in Pakistan after China and the Netherlands and accounts for 8% of foreign direct investment to Pakistan, also the UK has overtaken China and now is Pakistan‘s 2nd largest export market after the US and also the largest market in the Europe“.