LAHORE:Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain held a meeting with Consul General of Kazakhstan Rao Khalid Mustafa at his office here on Thursday. The meeting discussed promotion of economic cooperation between Punjab and Kazakhstan and matters of mutual interest.
The two sides also reviewed prospects for cooperation, joint ventures and mutual investment in various sectors.Speaking on the occasion, Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain said there was vast potential for collaboration between Punjab and Kazakhstan in textiles, tourism, technical education, the electric vehicle (EV) sector and other fields. He said investors from both sides could launch joint ventures in different sectors.
The minister said Punjab’s Special Economic Zones (SEZs) offered excellent investment opportunities along with world-class industrial infrastructure. He said the Punjab government had introduced a land lease policy for SEZs under which investors could now acquire plots on leases ranging from 30 to 50 years for establishing industrial units.
Chaudhry Shafay Hussain said branches of various banks were also being established in Special Economic Zones to facilitate investors. He invited Kazakh investors to benefit from the investment opportunities available in Punjab’s SEZs, assuring them of every possible facilitation.
He said Artificial Intelligence courses were also being launched this month at the Punjab Tianjin University of Technology. He said that an agreement for cooperation could be signed between the Punjab Tianjin University of Technology and technical education institutions in Kazakhstan.
The provincial minister said several foreign companies had already established industrial units in Punjab, including lithium battery and two-wheeler electric vehicle manufacturing plants, while more foreign companies were coming to invest in the province. He invited Kazakh investors to invest in Punjab, assuring them of full support and facilitation.
Chaudhry Shafay Hussain said the Ministry of Overseas Pakistanis and Human Resource Development, headed by Federal Minister Chaudhry Salik Hussain, had signed agreements with Italy, Saudi Arabia and Oman regarding skilled manpower. He said a similar agreement could also be reached for sending skilled Pakistani workers to Kazakhstan.
The minister said new industrial estates were also being established in Punjab in accordance with investors’ demand and industrial requirements. He said a Garment City had already been established at Quaid-e-Azam Business Park, Sheikhupura, while a Pharmaceutical Valley would be developed over 200 acres.
Consul General of Kazakhstan Rao Khalid Mustafa said sectors for enhanced economic cooperation between Kazakhstan and Punjab would be identified. He said a conducive environment for investment existed in Punjab and Kazakh investors would be informed about the investment opportunities available in the province.
