Turkish firms to set up industrial units in Pakistan

Updated 17 Nov 2020

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A Turkish delegation has  expressed their interest for setting up industrial units in Pakistan. — AFP/File
A Turkish delegation has expressed their interest for setting up industrial units in Pakistan. — AFP/File

ISLAMABAD: Turkish delegation on Monday expressed their interest for setting up industrial units in Pakistan to start production activities to meet the needs of the construction industry, a press release issued by the Islamabad Chamber of Commerce and Industry (ICCI) said on Monday.

ICCI President Sardar Yasir Ilyas Khan briefed the visiting delegation about the potential business and investment opportunities in the country’s real estate and construction sectors.

He said that Pakistan was a big market with huge demand for housing units and commercial buildings.

He said that the current government has announced a very attractive construction package to boost construction activities in the country and it was the right time for foreign investors to explore Pakistan’s real estate and construction industry for joint ventures and investment.

He said that the Turkish investors should bring technology and expertise and set up industrial units in Pakistan to capitalise on the emerging investment opportunities in construction and other sectors that would also help in maximising economic growth and increasing exports of our country.

He assured that the ICCI would extend all possible assistance and facilitation to Turkish investors for joint ventures and investment in the country.

Speaking at the occasion, Turkey’s ADO Group President Mustafa SAK said that they have seen huge potential for investment in Pakistan and they wanted to set up industrial units to produce construction material and products to meet the needs of the local construction industry.

They said that their collaboration with Pakistani counterparts would be beneficial for both countries.

He said that Pakistan and Turkey have worked to negotiate a preferential trading agreement, aiming to considerably increase trade and investments, especially in transport, telecommunications, manufacturing, tourism and other industries and hoped that its finalisation would further increase the volume of bilateral trade between the two countries.

Published in Dawn, November 17th, 2020