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February 13, 2020

PIEDMC chief visits LCCI

Business

February 13, 2020

LAHORE: The Punjab Industrial Estates Development and Management Company (PIEDMC) has offered investors and industrialists in the country and abroad to setup factories in four special economic zones in Punjab, a statement said on Wednesday.

Brief the Lahore Chamber of Commerce and Industry (LCCI) members, PIEDMC Chief Executive Officer Muhammad Javed Ilyas said that these factories would become a tool to make investment in industrial infrastructure and a service provider to attract and facilitate foreign investment, integrate local firms into global value chains, promote export-oriented growth and generate employment, it added.

These special economic zones are located in close proximity of motorways and would increase

employment to 450,000 skilled and more than two million unskilled people and also help increase GDP, tax revenue, improve balance of trade through exports and overall economic prosperity in the country, he said.

He expressed the hope that out of four smart special economic zones, the Quaid-e-Azam Business Park will become the trendsetter in the country as Sundar Industrial Estate (SIE) in Lahore has become the role model for industrial setups in Pakistan where more than 450 factories are functional.