FIEDMC Continue To Provide Conducive Business Environment To Chinese Investors

ISLAMABAD, (UrduPoint / Pakistan Point News - 31st May, 2020 ) :Chairman Faisalabad Industrial Estate Development and Management Company ( FIEDMC) Mian Kashif Ashfaq on Sunday said all foreign investors and local entrepreneurs especially Chinese will be fully encouraged for Joint Ventures (JV) in Allama Iqbal Industrial City, a prioritized Special Economic Zone (SEZ) of Faisalabad Industrial Estate Development and Management Company (FIEDMC) working under CPEC for development of Pakistan at the wake of pandemic of coronavirus.

He expressed these views while talking to Chinese Ambassador to Pakistan Yao Jing here today(Sunday) during a call on meeting," says a press release issued here.

Matters of mutual national interest including Chinese investment in Pakistan and co-operation in different sectors including energy came under discussion.

Unfolding the distinctive features of business friendly foreign investment policy of Prime Minister Imran Khan, Mian Kashif said that the foreign investors especially Chinese have evinced keen interest for investment in various small and medium sized industrial sectors.

"It's positive to note that the world is recognising Pakistani economic development. The Pakistani government is making efforts to reform the ease of doing business and bringing structural reforms," he added.

"Pakistan has been a longstanding trade and strategic partner of China and we have plans to increase investment under the China-Pakistan Economic Corridor (CPEC) and increase imports from Pakistan to make it an economically strong and independent country," he said.

"We look forward to speedy completion of the projects included in CPEC." He hoped that in the coming days China would be interested in more investments. Pakistan was taking all possible steps to attract Chinese investment to boost its economy, he added.

FIEDMC Chief Operating Officer Aamir Saleemi and others were also present on the occasion.

Mian Kashif said FIEDMC would extend full cooperation to China in promoting business activities and establishing strong trade links for the country's economic stability.

He said that CPEC projects were bringing a transformation in the country's economy and that all projects under the framework were receiving top priority in implementation.

"We value the Chinese assistance and support in building infrastructure, road networks and energy projects and we look forward to exploring more avenues so that bilateral cooperation could be enhanced," he added.

He said the government was facilitating investors and reducing impediments in ease of doing business.

He also asked Chinese companies to shift plants to Pakistan to overcome their high labour cost.

FIEDMC Chief said new businessmen and investors were also investing in the industrial estate, particularly overseas Pakistanis from Dubai, United Kingdom, United States and other countries.

The estate would play host to textile, pharmaceutical, food, cereal, cosmetics, electrical panel and power industries as well as rice processing factories, he said.

"The good thing is that PIEDMC is led by private sector so that it can be more flexible, able to respond to the changing environment and designed to be financially self sustainable in order to maintain desired impetus or developmental works," he added.

Chinese Ambassador to Pakistan Yao Jing lauding the incumbent government said world's confidence restored due to successful economic policies, peace and stability in Pakistan under the leadership of Prime Minister Imran Khan.