IBC invites pharma, textile ventures

LAHORE: The International Business Council (IBC) of Kyrgyzstan has extended an invitation to Pakistani investors to establish a pharmaceutical plant and a textile unit within the country’s growing market, a statement said on Wednesday.

The announcement was made by Askar Sydykov, Director of IBC, during discussions with a Pakistani trade delegation led by Meher Kashif Younis, the honorary consul.

The delegation is currently visiting Kyrgyzstan to work out modalities for expanding volume of bilateral trade between two countries. Shahid Hassan, president Kyrgyzstan Trade House in Pakistan was also present on the occasion as a part of delegation.

Sydykov said Kyrgyz offers a promising landscape for investment, marked by a growing demand for pharmaceuticals and textiles, creating a conducive environment for profitable ventures.

He said with the global pharmaceutical industry experiencing steady growth, Kyrgyzstan stands out as a lucrative destination for investors looking to capitalize on this expanding market.

"By setting up a pharmaceutical plant, Pakistani investors can not only cater to the domestic demand but also explore opportunities for export to neighboring countries in Central Asia."

Sydykov said the benefits of investing in Kyrgyzstan extend beyond market demand.

"The country boasts a favorable business climate, characterized by liberal investment policies, tax incentives, and government support for foreign investors," he said. "Kyrgyzstan also offers competitive labor costs and abundant natural resources, further enhancing the quantum of investment in the country."

Sydykov said collaborating with the IBC ensures seamless entry into the market, with access to valuable insights, networking opportunities, and regulatory support. IBC is committed to facilitating the success of investors and fostering mutually beneficial partnerships between Kyrgyzstan and Pakistan.

He said the textile industry in Kyrgyzstan is poised for development, fueled by increasing demand for quality textiles both domestically and internationally. "By establishing a textile unit, Pakistani investors can tap into this demand and leverage Kyrgyzstan's strategic location as a gateway to the Eurasian Economic Union and other regional markets.

We look forward to welcoming Pakistani investors and forging fruitful collaborations that drive economic growth and prosperity for two countries."