During a meeting with Chairman FIEDMC, Chinese Ambassador to Pakistan Nong Rong said that measures for the “relocation” of the industry from China in the Allama Iqbal Industrial City, a priority special economic zone to be established under the CPEC, will be accelerated further.
Talking to Mian Kashif Ashfaq, Chairman, Faisalabad Industrial Estate and Management Company (FIEDMC), the Chinese Ambassador said that a series of ‘Webinars’ for Chinese investment in FIEDMC’s economic zone would be introduced soon and delegations of Chinese companies would travel to Pakistan on an emergency basis to finalize investment matters as soon as air travel is restored. The Chairman FIEDMC invited him to visit the FIEDMC office, One Window Center and Economic Zones.
The Second Secretary of the Economic and Commerce Department of the Chinese Embassy, Mr. Liu Rui, was also present on the occasion.
Accepting the invitation, the Chinese Ambassador said that he will also visit and meet with Chinese investors and local industrialists. Mian Kashif said that FIEDMC has become the biggest company in Pakistan in terms of development of economic zones. Allama Iqbal Industrial City is the largest economic zone in Punjab under CPEC and it is getting special support from the federal and provincial governments, he added.
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He said that numerous Chinese companies are already operating in FIEDMC’s M3 industrial city and the development work of a special block of one thousand acres for Chinese companies is under construction in Allama Iqbal Industrial City.
He said that FIEDMC has set up a special one-window center for the convenience of Chinese investors while the government has also approved the issuance of two-year visas for Chinese investors. The Chinese Ambassador lauded the performance of FIEDMC Chairman Mian Kashif Ashfaq and said that his services in transforming Pak-China friendship into an economic partnership would be always be remembered.
Allama Iqbal Industrial City By FIEDMC
Allama Iqbal Industrial City, one of the nine SEZ’s to be built in Pakistan under CPEC is being developed by FIEDMC. It is spread over 3217 acres of land and strategically located just opposite M-3 Industrial City. It has especially been designed to cater to the needs of the foreign investors, specifically the Chinese industrialists. FIEDMC’s Chairman Mr Mian Kashif Ashfaq has stated that local investors are also being provided with the same facilities and incentives as the foreign companies.
FIEDMC has been serving as a key government entity in developing and diversifying the economy of Pakistan through the creation of industrial zones. It was formally registered under company’s ordinance in 1984 with aim to foster economic development and has currently undertaken three projects of national importance.
Allama Iqbal Industrial City is connected to M4 Motorway Sahianwala Interchange. FIEDMC believes that within one to two years, more companies would set up there which would significantly increase national exports. This would usher in a new era of industrial development in Pakistan.
FIEDMC has also planned to establish a technical university near Allama Iqbal Industrial City and M3 Industrial City to impart technical education and skills to youth.
The SEZ’s are referred to as the lifelines of Pakistan’s industrial development as once operational, they would be able to create around 2 million jobs. They would also enhance exports and would help in uplifting several other sectors of the economy.