Quaid-e-Azam Apparel Park Project

Pakistan hosts first road show in China to attract investment

ISLAMABAD: Pakistan has hosted the first roadshow for Quaid-e-Azam Apparel Park Project (QAAP) in China to attract investment in the special zone spreading over 1,500 acres, a statement said on Tuesday.  

Pakistan’s embassy in China hosted the roadshow, which was participated by representatives of 76 Chinese companies.  “Such a strong showing reflects the Chinese goodwill not only towards this project but also towards Pakistan,” Ambassador Masood Khalid said in a statement released from China. 

“Government of Punjab has launched many projects but this project is pivotal as textile sector is the main segment of business development and Pakistan’s economy.” Located at the Lahore-Sheikhupura Motorway, QAAP is a flagship project of the Punjab Industrial Estates Development and Management Company.

Around 1,000 acres of lands are allocated to industrial plots of 10 acres each. Each unit can employ up to 3,000 workers. The remaining land area will be for the amenities and various services. 

The park is especially designed for exports of apparels from the country. The average export of this size of apparel unit in Pakistan is $30-$50 million.

The industrial park would generate approximately annual exports of three to four billion dollars. Currently, textile exports account for more than half of the total exports from the country.

Pakistan’s exports slid 3.82 percent to $9.912 billion in the first half of the current fiscal year of 2016/17, according to the Pakistan Bureau of statistics. Ambassador Khalid urged Chinese entrepreneurs to explore the untapped commercial and business potential of Pakistan due to availability of cheap raw materials and manpower. 

“Pakistan’s recent economic performance has been lauded by world financial institutions and credit rating agencies,” he said. “The government has also taken special measures to provide security to around 19,000 Chinese nationals working in Pakistan on different projects.”

The ambassador highlighted the geographical importance of Pakistan as being on the confluence of Middle East, South Asia and Central Asia, which, he said, has further been enhanced due to China-Pakistan Economic Corridor.

“This route will also be shorter and cost effective for Chinese trade and business.” Khalid said the government is offering various incentives to the investors. He stressed the need for ensuring good quality and international standards by the investors in executing these projects.

Shahzad Sheikh, project director of QAAP, said the park’s ideal location and availability of all necessary amenities, “will lead to the success of this project.”  “The garments produced here shall be exported the world over, adding billions to the country’s GDP.”