Investors’ confidence to be restored: minister

LAHORE:A delegation of Pakistan China Joint Chamber of Commerce and Industry on Thursday met with Minister of Industry and Commerce Chaudhry Shafay Hussain.

In the meeting held in the committee room of the Punjab Investment Board various proposals were discussed to increase the investment of Chinese companies in Punjab. Talking on this occasion, Chaudhry Shafay said that the government will restore the confidence of investors and bring new investments in Punjab.

No hindrance will be allowed in investment, Chaudhry Shafay said and added it is the best time to promote investment in Punjab. Business Facilitation Centres have been established for the convenience of investors. The scope of Business Facilitation Centres is being expanded. A garment city is being built on an area of 630-acre in Quaid-e-Azam Business Park Sheikhupura. Domestic and foreign investors will be able to invest in Garment City. Foreign investors will also be given the facility of residence in Garment City, he said.

He added that Tevta institutes, labs and curriculum are being aligned with modern requirements as per global standards. The minister agreed to the proposal of the delegation about holding road shows in China regarding investment opportunities in Punjab. The delegation also suggested the establishment of a central database for professional mapping. Secretary General Chamber Salahuddin said that Pakistan-China Joint Chamber of Commerce and Industry should be given representation in the boards of PIEDMC and FIEDMC. Chairman PIEDMC Javed Iqbal, Additional Secretary Commerce and officers of Punjab Investment Board were also present in the meeting.