Chinese investors visits FIEDMC

ISLAMABAD: A Chinese investors delegation on Wednesday visited Allama Iqbal Industrial City, a mega prioritised project of special economic zone (SEZ) of Faisalabad Industrial Estate Development and Management Company (FIEDMC) under CPEC to strengthen bilateral trade relations through exploring business potential and investment opportunities.

FIEDMC Chairman Mian Kashif Ashfaq and Chief Operating Officer Muhammad Aamer Saleemi received the delegation and apprised them of the development of the project. The two sides discussed issues for improvement in various sectors and projects," a statement said.

Highlighting the development projects of FIEDMC, Ashfaq said that around Rs357 billion foreign and local investments will be injected into various projects, which clearly indicates that investors have reposed complete confidence in the present regime.

“More than 25 Chinese companies had made agreements for investments in the industrial city,” he added. Allama Iqbal Industrial City has been planned over an area of 4,000 acres, which is strategically located on Motorway M-4 near Sahianwala Interchange, Faisalabad.

All industries within the export processing zone will be exempted from tax for a period of 10 years and plants, machinery, raw material and other equipment will be imported duty-free, he added.