LAHORE– A high level of delegation of the Faisalabad Industrial Estate Development and Management Company (FIEDMC) Saturday left for Europe to promote bilateral trade and enhance close cooperation through exchange of delegation in investment sector.
Talking to media prior to his departure for Europe, FIEDMC Chairman Mian Kashif Ashfaq said the delegation would visit five different European countries included Germany, Italy and UK on ten days visit to seek investment in FIEDMC different projects especially in Allama Iqbal Industrial City which is a prioritized Special Economic Zone under CPEC.
The delegation would have one on one direct interaction with foreign business leaders, researchers and investors in European countries, he said adding the tour would enable investors to identify potential organizations to partner and developing successful regional economic strategies and support regionally vital businesses.
He was of the view that economic and trade relations between Pakistan and Europe possess great potential and there was dire need for Pakistani business community to focus on improving their competitiveness in the European market.
Pakistan attaches immense importance to its relations with European countries especially with UK, Italy, France ,Spain and Germany,” he said. “Pakistani market is mostly unexplored and has huge potential, thus offers lucrative investment opportunities.”
He said European countries are keen to invest in various economic sectors of Pakistan in order to avail business opportunities in the country in view of China-Pakistan Economic Corridor (CPEC) projects as many of these European companies are interested in investing in infrastructure, energy, agriculture, defence, and digital technology sectors.
“It will help add value on different levels of production processes and increase production in general,” he added. “Pakistan has a huge potential to generate quality exports if right and focused investments are made.”
Mian Kashif said the recent political and economic stability has restored the trust of foreign investors, attracting heavy investment from the leading business companies. “The entire world is expressing its interest to reap the CPEC benefits.”
He said Pakistan’s exports to European Union (EU) have been showing an upward trend since the award of generalised scheme of preferences plus status to the country by EU.
He also said FIEDMC is committed to facilitate investment and ease of doing business. He said that Pakistan is endowed with sufficient raw materials, low-cost and trained labour force, easy access for marketing to third country destinations like European Union, Central Asian Republics and Gulf States.
He said the FIEDMC always provided state-of-the-art facilities to its customers besides resolving their issues through one-window operation on a priority basis.
Mian Kashif stressed that investor confidence was being restored gradually after completion of the M3 project. He also highlighted various steps taken by the government for improving ease of doing business and facilitating foreign investment.
