FM Qureshi ensures support to foreign investors interested in SEZs

ISLAMABAD (Web Desk) – Minister for Foreign Affairs Shah Mehmood Qureshi Sunday reaffirmed the Pakistan Tehreek-e-Insaf (PTI) government’s commitment to fully encourage foreign investment in Pakistan and provide all out assistance to investors especially those interested to pump money in Special Economic Zones (SEZs) under China Pakistan Economic Corridor (CPEC).

He expressed these views during a meeting with Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq who called on him, said a press release.

The minister said there were vast investment opportunities in Pakistan in the fields of energy, agriculture, health, education and construction for foreign investors.

He said the government was planning to envisage a comprehensive strategy in wake of coronavirus pandemic especially in context of post corona era and would initiate economic diplomacy through activating all embassies to apprise foreign investors on lucrative business opportunities in Pakistan.

He said the first phase of CPEC was focused on infrastructure development and energy generation while in second phase industrial cooperation and socioeconomic development were our highest priorities.

He said the government had set up SEZs especially prioritized ones and Allama Iqbal Industrial City under CPEC of FIEDMC would also help meet these objectives.

He also appreciated Mian Kashif Ashfaq for accelerating the pace of development projects in Allama Iqbal Industrial City and asked him to seek mutual cooperation from investors of this whole region, especially the landlocked Central Asian countries and Afghanistan, to benefit from the CPEC.

“CPEC is a game-changer for the entire region and there is no restriction on any country, including the USA, to invest in the special economic zones, being established under CPEC,” added Qureshi.

FIEDMC Chief Operating Officer Muhammad Aamir Saleemi and other senior officers besides experts were also present on the occasion.

FIEDMC Chairman Mian Kashif Ashfaq apprising Foreign Minister Shah Mehmood Qureshi of Allama Iqbal Industrial City said this sole project would house as many as 400 industries besides giving employments to 2,500,00 people.

He said approximately Rs450 billion foreign and local investments would be pumped into this project and development project was being carried out on fast track. The FIDEMC always provided state of the art facilities to its customers besides resolving their issues through one window operation on top priority basis. He said the confidence of the investors on was being restored after completion of M3 project.

He further said many European countries were keen to invest in various economic sectors of Pakistan especially in newly launched state of the art Allama Iqbal Industrial Estate with 10 years tax holiday coupled with an excellent and unprecedented package of incentives.

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

May 17: Minister of State and Chairman Board of Investment of Pakistan, Atif R. Bokhari in his key note speech, invited the French entrepreneurs, investors and businessmen to invest in Special Economic Zones (SEZs) established by Pakistan, especially in food processing, information technology, housing and construction, travel and tourism and agriculture sectors and benefit from Pakistan’s liberal investment regime and stable political and security situation of the country.

A webinar on investment opportunities in Pakistan was held today by MEDEF, the largest business federation in France, Embassy of Pakistan in Paris and French Embassy in Islamabad, said a press release issued by BOI here.

He also encouraged the French investors and businesspersons to consider investing into Information Technology Park being established in Islamabad. The event was attended by a large number of Pakistani and French companies.

The Ambassador of Pakistan to France Mr. Moin ul Haque and Deputy Head of the Asia-Pacific Department of the French Ministry of Economy and Finance Ms. Nora SUSBIELLE, attended from France. Chairman Board of Investment of Pakistan Atif R. Bokhari.

Bokhari and Ambassador of France to Pakistan Marc BARETY, took part in the event from Pakistan. President of Pakistan France Business Council and President of Total Global Services, Thierry Pflimlin in his remarks said that the French and Pakistani companies should explore the emerging business and investment opportunities as both the countries restart their economies in the wake of Covid 19 lockdowns.

The Ambassador of Pakistan to France Moin ul Haque briefed the participants about the economic challenges being faced by Pakistan due to Covid 19 and the government’s relief stimulus package to help business and vulnerable segment of the society.

“We noted that while Covid-19 has stressed the economies of the world, it has also created opportunities.” Mr. Marc Barety, Ambassador of France spoke about the huge potential that exists between Pakistan and France in further strengthening their economic and investment relations.

He said cooperation between small and medium enterprises of the two countries is among the priority areas for enhancing business ties. The webinar was part of Embassy of Pakistan, Paris efforts to sustain the momentum of bilateral economic and investment relations between Pakistan and France despite the difficulties and disruptions posed by Covid 19 pandemic.