Staff Report
ISLAMABAD: Overseas Pakistanis from the Kingdom of Saudi Arabia (KSA) have shown interest to bring $ 10 million investment in different potential sectors including food industry and food processing in Allama Iqbal Industrial City (AIIC) Faisalabad.
The AIIC Special Economic Zone under the framework of China Pakistan Economic Corridor (CPEC) is offering one window shop for foreign and local investors to bring investment in the different sectors, head of delegation of Overseas Pakistani Investors from Kingdom of Saudi Arabia (KSA), Chaudhry Muhammad Afzal told media. The 13 members of delegation of overseas Pakistani investors from KSA visited the AIIC in Faisalabad to see the future investment opportunities and negotiated with the Chairman of Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq.
Head of delegation Chaudhry Muhammad Afzal said that overseas Pakistanis especially those settled in KSA are more interested to bring investment in different sectors including food and food processing, farming, Oil and Petrochemical, medical and medical equipment, Pharmaceutical, tyres manufacturing particularly in the CPEC Special Economic Zones (SEZs).
He said, “We are demanding 200 acre land in the SEZ on 30 years lease and on 10 percent down payment for decreasing the cost of doing business in multi sectors”.
He said that the delegation of investors want to acquire land in Allama Iqbal Industrial City (AIIC) to establish their industries in different sectors and because of the more high-quality business environment and facilities offered by the government in SEZs.
He said that the AIIC is the largest industrial zone among prioritized SEZs in terms of area with 3217 acres and the Allama Iqbal SEZ has advantage of being adjacent to M3-Industrial city which comprises of large number of projects including agriculture and food, pharmaceuticals, information technology, chemicals and automotive.
