Investment opportunities in Punjab: 13 countries’ honorary CGs meet minister

LAHORE: Honorary Consul Generals of 13 countries met Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain. In the meeting, investment opportunities in Punjab were discussed. The Provincial Minister informed about the possibilities of investment in various sectors of Punjab.

Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain said that there is a very favourable environment for domestic and foreign investment in Punjab. Investors in Special Economic Zones have special privileges. 10-year income tax exemption and one-time facility to import machinery without import duty have also been provided to the investors on investment in Special Economic Zones. Chaudhry Shafay Hussain said that industrial estates have the best industrial infrastructure. The process of transition of industrial estates to solar energy has also been initiated.

Provincial Industries and Commerce Minister said that a Garment City on 630 acres area is being built in Quaid-e-Azam Business Park, Sheikhupura. Garment City will be completely on solar energy. Foreign investors in Garment City will be given the best facilities including accommodation. The promotion of solar energy is the first priority of the government.

Chaudhry Shafay Hussain said that he has met more than 21 foreign solar energy companies so far. A major Chinese investment company will set up a solar energy plant in Punjab this year. Another Chinese group will set up an electric bike assembling plant in Punjab. Special measures are also being taken for the promotion of fish industry.

Consul Generals appreciated the steps taken to promote investment in Punjab. Honorary Consul General of Austria Sarmad Amin, Asma of Netherlands, Munir Iqbal of Italy, Shahidsti of Mauritania, Nazir Pracha of Tajikistan, Navid Farid of Norway, Zahid Anjum of Kosovo, Ahmad Hussain of Poland, Zahid Iqbal of Bosnia, Murad Sehgal of Belgium and Honorary Consul General Qazi Humayun of Bangladesh were among those who met with Provincial Industries and Commerce Minister Chahdry Shahfay Hussain.

Copyright Business Recorder, 2024