FIEDMC plays key role to attract domestic, foreign investment

LAHORE-The Faisalabad Industrial Estates Development & Management Company (FIEDMC) is playing a fundamental role in attracting domestic and foreign investment. FIEDMC Chairman Mian Kashif Ashfaq while talking to the Lahore Chamber of Commerce and Industry (LCCI) President Mian Tariq Misbah in the presence of Senior Vice President Nasir Hameed Khan and Vice President Tahir Manzoor Chaudhry here at the LCCI on Thursday expressed these views. Mian Kashif Ishfaq said that the establishment of new industrial units by Chinese, Asian, European, Turkish and Saudi companies would generate employment opportunities at a vast scale besides much-needed revenue for the government. He gave a detailed presentation on the ongoing projects and development work under the FIEDMC and announced to set up a facilitation desk at the LCCI to disseminate investment-related information amongst the LCCI members.  It was also decided that a delegation of the LCCI led by its President Mian Tariq Misbah would visit Faisalabad to get first-hand knowledge about development work in the industrial estate. He also appraised the LCCI office-bearers about facilities being provided at the industrial estate. He said the FIEDMC had always provided modern facilities to its customers besides resolving their issues through one window operation on a top priority basis. Speaking on the occasion, LCCI President Mian Tariq Misbah said the industrial estates were imperative for the industrial growth, employment generation, exports promotion and economic development of the country. He said: “The special economic zones are the need of the hour and we have to take certain steps to divert investments to the industrial sector”. The LCCI president said that there was a dire need to have a specific industrial policy to encourage the private sector representatives to start vigorous industrialization. Mian Tariq Misbah said that incentives for the industrial sector would surely help to a great deal in generating new employment opportunities. “There is no doubt that with the establishment of special economic zones across the country, the present pace of economic development can be enhanced to achieve the desired results,” he added.