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LAHORE, Jul 10 (APP):Punjab Minister for Industries and Commerce Chaudhry Shafay Hussain Thursday met Mazhar Hussain, Chairman of the Global Trade Expo Centre (GTEC) Pakistan, to discuss investment opportunities in Punjab’s industrial estates.
The meeting took place at PISC House, where the chairman invited the minister to participate in the Investment Business Forum scheduled for September in Paris and briefed him on GTEC’s initiatives to promote economic activities.
Chaudhary Shafay Hussain announced that a delegation from Punjab’s business community would attend the Paris Investment Business Forum. He highlighted that government efforts have opened new avenues for investment in Punjab, with industrial estates witnessing rapid establishment of new factories, creating jobs for locals. Special Economic Zones offer investors a 10-year income tax exemption and a one-time duty-free machinery import facility, he added.
The minister noted that foreign companies from China, Japan, and other countries are investing in Punjab’s electric vehicle (EV) and other sectors . He urged GTEC to inform European investors about the lucrative opportunities in Punjab. A cooperation agreement between the Industries and Commerce Department and GTEC Pakistan will soon be signed to promote investment.
Shafay Hussain shared plans for developing a Garment City and Pharmaceutical Valley at Quaid-i-Azam Business Park in Sheikhupura, alongside a 740-acre Surgical City in Sialkot. He reaffirmed his commitment to attracting new investments by fostering a business-friendly environment in Punjab.
Punjab Board of Investment and Trade (PBIT) Director Dr. Imran Hashmi, GTEC Director (International Trade) Liaquat Ali, and others were also present.