USD 15 MN to Be Invested by UAE in Faisalabad SEZ
According to a tweet by Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment, an energy company located in the United Arab Emirates (UAE) would invest USD 15 million in the Faisalabad Special Economic Zone (SEZ) in the coming months (December 16).
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According to sources, the investment strategy would be implemented in three phases, with the first phase involving the development of an Aerosol Propellant Gas (APG) factory. In addition, the enterprise will produce refrigerant gases and lubricants for Abu Dhabi National Oil Company (ADNOC).
The advisor also complimented the Board of Investment (BoI) for fostering an investment-friendly atmosphere. He noted that the investments of multinational corporations in Pakistan’s newly established SEZ reflect growing confidence in the government’s business-friendly policies.
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In addition, Muhammad Azfar Ahsan, Minister of State and Chairman of the Board of Investment, stated that the BOI is streamlining business regulations to encourage Foreign Direct Investment (FDI). He further noted that there are unique facilities for enterprises interested in investing in the 22 designated SEZs.
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