ISLAMABAD :Federal Minister for Industries and Production, Syed Murtaza Mehmood on Monday welcomed the Japanese investors to invest in Pakistan’s Special Economic Zones (SEZs).
The incumbent government is ready to provide all possible facilities to the Japanese investors in the Special Economic Zones (SEZs), Priority Special Economic Zones (PSEZz) and Export Processing Zones (EPZs), he said.
Federal Minister, Syed Murtaza Mehmood said this while addressing the meeting with the Japanese Association of Commerce and Industry headed by Kazutera Mihara along with Secretary Industries and Production Imdadullah Bosal here in the Ministry of Industries and Production.
The Minister said that 300 acres of land would be allocated by the government to facilitate the companies to help setting up of industrial units in the Special Economic Zones.
The government of Pakistan will also provide1500 acres of land for investment in its industrialist park Karachi, he informed.
The Minister said that these economic zones have vast potential for all kinds of investment including automobile and hybrid vehicle sectors.
These special economic zones will have all kinds of business facilities besides free tax regime, he added.
He said that one window facility or one stop shop facility would be available in the special economic zones.
He said that the hybrid vehicle policy would also be reviewed and made favorable for investors.
In addition, in the Small and Medium Enterprises (SMEs) sector,where “We need Japanese support, which is the backbone of any country’s economy.
He said that , there are potential areas for information technology and textile cooperation where there are vast opportunities to work.
He said that “We are prefer local manufacturing and make in Pakistan, which is expected to reduce our current account deficit in the current situation.
The Minister said that our team under the leadership of Prime Minister, Muhammad Shahbaz Sharif is ready to provide all possible assistance and facilities for foreign investment.
“Our Ministry is always ready to cooperate with foreign investors” he said.
In addition, it was decided during the talks that a draft of the proposed coordination committee in the Prime Minister’s house would be prepared and sent to the Prime Minister’s House for mutual discussion and future agenda.
Meanwhile, Kazutera Mihara, Head of delegation from the Japanese Association of Commerce, said that “we are seeing significant potential in the Information Technology (IT) and automobile sector in Pakistan.” He said that Japan has 90% of SMEs and “we are ready to extend all possible cooperation to Pakistan in this sector.”He said that Japan is ready to invest in the auto sector and plans for the future should be worked out in this regard.
He said that there are ample opportunities for investment in these sectors with Pakistan and every effort would be made to implement them in letter and spirit