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Thursday, September 21, 2023

FIEDMC signs MoU with FWCCI

FIEDMC and FWCCI to sign an MoU in a bid to encourage role of female entrepreneurs in the country’s economic development

In a collaborative effort to bring more female entrepreneurs into the mainstreaming of the economy, Faisalabad Women Chamber of Commerce & Industry (FWCCI) and Faisalabad Industrial Estate Development and Management Company (FIEDMC) will ink a Memorandum of Understanding (MOU), said FIEDMC CEO Aamer Saleemi.

He welcomed the FWCCI delegation which was led by Tehmina Pasha and accompanied by SVP Shahida Aftab, founder president Rubina Amjad and immediate past president Qurat-ul-Ain. CEO FIEDMC praised the organized efforts of FWCCI and assured that they would provide top-notch facilities to the women who are willing to establish their industrial units in M-3(Allama Iqbal Estate).

Read More: FIEDMC and Hong Kong Trade & Investment Forum sign MOU

He further stated that if the number of women who are interested in setting up their industrial units exceed the space, a separate block would might also be arranged for them. Mr Aamer Saleemi also offered FIEDMC’S hall to FWCCI for organizing meetings.

CEO FIEDMC also suggested FWCCI to get in touch with international donors and banks for the construction of a dedicated building of FWCCI, a women technical and training institute, a female incubation center and a display center.

The Potential of Pakistani Women

The development and evolution of any civilization is largely dependent on trade, commerce and industrialization. In this development, entrepreneurship in particular has a pivotal role to play. Since the beginning, women in Pakistan have dedicated their lives solely to the household activities and are labelled as homemakers. But with time, a women’s role is broadening beyond being a housewife. The hidden entrepreneurial potential of women is now coming to light as more and more of them are breaking away from the beaten track and exploring avenues of economic participation.

Read More: Chairman FIEDMC inaugurates State-of-the-art Alley Law College

However, there is a still a long way to go for Pakistan. The country would develop faster if women entrepreneurs are presented with more opportunities. This collaboration between FIEDMC and FWCCI to bring in more females into the mainstream economy is a welcome step as it would have a substantial impact on encouraging women to engage in entrepreneurial activity. Like FIEDMC, other private and public sectors also need to step up efforts for Pakistani women by developing networks, programs and tools to help them access capital and pursue high growth enterprises.

Pakistan’s Industrial Boom

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. Their first project of Value Addition City has been a massive success and has been applauded for offering state-of-the-art infrastructure, affordable land, top-notch facilities and dedicated business support services.

Read More: FIEDMC to play a pivotal role in industrial development: Governor Punjab

M-3 Industrial City which enjoys the perks of being an SEZ is another fruitful project which was launched by FIEDMC. It is the largest industrial state in Pakistan launched to support the development of the manufacturing sector through provision of top-tier infrastructure and an environmental-friendly estate management. Comprising of over more than 4500 acres of land accommodating Chemicals, Auto motives, Textile, Pharmaceuticals, Information Technology etc.

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. Allama Iqbal Industrial City, which is one of the nine SEZ’s to be built in Pakistan under CPEC is also being developed by FIEDMC. 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.