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Monday, May 20, 2024

Chinese company interested in FIEDMC to set up agro-industrial units

Continuing to attract foreign investors, FIEDMC is receiving keen interest from more Chinese companies. Chairman Mian Kashif revealed that Qingdao Hongzhu Agriculture Machinery Co. Ltd, wants to set up camp in one of of FIEDMC's industrial zones.

Prime Minister’s claims are proving true, whereby, Pakistan’s Special Economic Zones are attracting several foreign investments. Recently, a leading company, Qingdao Hongzhu Agriculture Machinery Co. Ltd made another addition to the list. The Chinese company interested in FIEDMC wants to establish an industrial unit in Pakistan. Their aim is to manufacture modern agricultural machinery, which can help boost agri-production at a massive scale.

Mian Kashif Ashfaq, Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC), feels positively about this news. He believes, “Special Economic Zones, especially those under FIEDMC, will create new business opportunities for Chinese companies in many economic sectors; and more so in the agricultural sector will boost mutual investment volume”.

Diplomatic sources from China met with Mian Kashif through video conference. There, they revealed how Qingdao Hongzhu, the Chinese company interested in FIEDMC, wants to set up camp in their industrial zone. They want to set up an industrial unit at the maximum level, in order to manufacture agricultural machinery in Pakistan.

Read more: FIEDMC to tighten security in industrial estates

The FIEDMC Chairman further shared his insight on the occasion. “Pakistan is an attractive liberal investment destination with tremendous opportunities to foreign investors in various sectors of the economy. FIEDMC would love to accommodate them in line with the vision of Prime Minister Imran Khan”.

He said that FIEDMC is attracting foreign investors due to its top-notch incentive packages, business-friendly environment and impressive policies. Mian Kashif further shared that Chinese companies are planning to invest around $5 billion in Pakistan over the next three to five years.

He also highlighted that more than 22 Chinese companies have started building their infrastructure in the M-3 Industrial City. “We have developed a supportive infrastructure and established a one-window service centre, especially for Chinese companies,” he added.

FIEDMC Chairman shared further details regarding foreign investors

Mian Kashif aims to uphold the government’s commitment to offer maximum facilities to overseas investors. He emphasized that local manufacturers, industrialists and investors are being offered equal opportunities and a level playing field.

Read more: European investors express interest in FIEDMC’s SEZ

He added, “Industries operating in FIEDMC’s vicinities will have an immediate access to high-quality infrastructure, uninterrupted power supply, public facilities and support services along with ease of doing business.

FIEDMC has also collaborated with the Industrial Police Liaison Committee to ensure the security of all its investors – foreign and local. “We have established a police post at M-3 Industrial City and the industrial community is working in a safe environment”.

Mian Kashif added that new businessmen and investors were investing in the Faisalabad industrial estate. These particularly include overseas Pakistanis from Dubai, the United Kingdom, the United States and other countries.