![Industries Minister meets Korean envoy, discusses bilateral cooperation](https://photo-cdn.urdupoint.com/images/UrduPoint-English-22.png)
Industries Minister Meets Korean Envoy, Discusses Bilateral Cooperation
Muhammad Irfan Published May 22, 2024 | 05:00 PM
![Industries Minister meets Korean envoy, discusses bilateral cooperation](https://photo-cdn.urdupoint.com/images/UrduPoint-English-22.png)
ISLAMABAD, (UrduPoint / Pakistan Point News - 22nd May, 2024) Federal Minister for Industries and Production Rana Tanveer Hussain on Wednesday met with the Ambassador of the Republic of Korea, Park Ki Jun to discuss the bilateral cooperation.
The delegation from leading South Korean companies also accompanied the ambassador, said a news release issued here.
The minister said that both countries enjoyed historical and cordial relations and engaged in multifaceted bilateral cooperation in many areas including in the field of economic and culture.
The matters of mutual interest, including bilateral cooperation and the challenges faced by Korean companies in Pakistan also came under discussion.
The minister assured the visiting delegation for prompt resolution of all pending matters.
Rana Tanvir apprised the visiting ambassador that the government had taken a number of steps to boost up industrial activities in the country.
He said that government had announced Automotive Industry Development and Export Plan (AIDEP 21-26) under which a number of incentives had been offered for investment in automobile sector.
As a result of this policy, 13 new manufacturers have started local assembling of renowned automobile brands in Pakistan.
He informed the delegation that the government was focusing on the establishment of Industrial Parks/ Special Economic Zones to promote the industrial activity.
Besides existing NIP projects, board of Investment (BoI) has further identified 27 sites for establishment of Industrial park alongside China Pakistan Economic Corridor (CPEC).
The incentives available to industry include income tax holidays for 10 years and duty-free import of capital goods.
The ambassador said that Korean companies were interested in investing in Pakistan.
He further desired to explore new investment opportunities in the country.
He also emphasized to search new avenues of bilateral cooperation and further strengthen economic and cultural ties between the two countries.
Related Topics
Recent Stories
![Cricket: England v West Indies 3rd Test scoreboard](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019914.jpg)
Cricket: England v West Indies 3rd Test scoreboard
![Finance minister briefs Chinese officials on refor ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019922.jpg)
Finance minister briefs Chinese officials on reform agenda, engagement with IMF
![Finland says Russian vessel violated its territori ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019912.jpg)
Finland says Russian vessel violated its territorial waters
![Olympic opening ceremony under way on River Seine](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019266.jpg)
Olympic opening ceremony under way on River Seine
![West Indies' treble strike rocks England in third ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019264.jpg)
West Indies' treble strike rocks England in third Test
![Ukraine court orders detention of suspect in murde ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019262.jpg)
Ukraine court orders detention of suspect in murder of nationalist ex-MP
![Long queues, ticketing problems ahead of Paris ope ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019015.jpg)
Long queues, ticketing problems ahead of Paris opening ceremony
![Rana Sanaullah Khan joins Paris 2024 Olympics inau ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019638.jpg)
Rana Sanaullah Khan joins Paris 2024 Olympics inauguration reception
![Glowing tributes mark 69th birthday of President Z ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019637.jpg)
Glowing tributes mark 69th birthday of President Zardari at Governor's House
![Players unaware of spying scandal as Canada Olympi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019635.jpg)
Players unaware of spying scandal as Canada Olympic coach sent home: official
![Naqvi hails Pak women cricketers for going down fi ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019013.jpg)
Naqvi hails Pak women cricketers for going down fighting against SL
!['Sabotage' on French rail network before Olympics: ..](https://photo-cdn.urdupoint.com/media/2024/07/_1/235x155/pic_1722019634.jpg)
'Sabotage' on French rail network before Olympics: What we know
More Stories From Business
-
Finance minister briefs Chinese officials on reform agenda, engagement with IMF
6 hours ago -
Chinese support for CPEC, development projects show deep love with Pakistan: Mushahid
6 hours ago -
G20 seeks common ground on taxing super-rich
6 hours ago -
Stocks rise as inflation data boosts rate cut hopes
7 hours ago -
Land of PSM to be used for establishment of SEZs: NA body told
9 hours ago -
European medicines watchdog rejects new Alzheimer's drug
9 hours ago
-
FBR committed to resolve taxpayer issues in KP, Chairman FBR assures Governor KP
11 hours ago -
Tanveer emphasizes role of SEZs in attracting investment
11 hours ago -
Russian central bank hikes key rate to fight inflation
11 hours ago -
SBP injects Rs9.545 trillion into market
11 hours ago -
PSX stays bearish, loses 439 points
11 hours ago -
US Fed's favored inflation measure cools further in June
12 hours ago