Ease of doing business: Punjab attracted around $2.5 bn FDI, says minister

DUBAI: Punjab Minister for Industries, Commerce, Investment and Skills Development Mian Aslam Iqbal said the province has attracted around $2.5 billion foreign direct investment under ease of doing business.

Speaking with The News, Mian Aslam Iqbal said the government has set up 23 small industrial estates in Punjab and 13 special economic zones are also being established in the province. Due to an investor-friendly environment, local and foreign investors are investing in Punjab, he added. He also disclosed that new industrial zones would usher in a great era of industrial development in Punjab.

The minister also addressed the gathering of start-ups and distributed certificates among them as the Punjab government is showcasing Punjab’s start-up at the Dubai Expo 2020 under the theme “start-ups & innovation”. Highlighting the diverse culture, thriving industries and new business investment opportunities for the global community, Mian Aslam Iqbal invited the Pakistan diaspora and the world to experience the province’s wealth in business, tourism, cultural heritage, technological innovations as well as its natural landscape, traditional ceremonial practices and historical significance.

He pointed out that around 30 MoUs are expected to be signed for investment in Punjab by the end of November in Dubai. He revealed that these MoUs must be materialised as Punjab Chief Minister Usman Buzdar has already ordered to set up a cell to make sure a follow up of the MoUs is done that are being signed in Pakistan Pavilion at Dubai Expo 2020.

He informed that Punjab Board of Investment and Trade’s CEO Dr Arfa Iqbal will supervise the investment cell after the Dubai Expo 2020.