UK investors may set up industrial units in Allama Iqbal Industrial City

FAISALABAD: British investors intend to establish hi-tech business units in the M3 Industrial City, said UK Representative to Punjab Alex Ballinger.

In a meeting with Faisalabad Chamber of Commerce and Industry (FCCI) former executive member Haji Muhammad Idrees on Friday, the envoy said that Pakistan and the UK enjoyed close relations with special focus on Faisalabad.

“Both countries are trying to enhance bilateral trade and maximum facilities are being provided to local investors, who are ready to launch joint ventures,” he said.

The UK representative appreciated the establishment of M3 Industrial City and Allama Iqbal Industrial City, terming them the most suitable places to establish new industrial units.

He was of the view that joint ventures between the two nations would not only enhance the production of exportable surplus but would also create job opportunities for the unemployed youth.

The envoy emphasised that the UK’s exit from the European Union would not affect its imports from Pakistan as Islamabad would continue to enjoy the same privileges and perks.

During the meeting, National Group official Javed Iqbal urged domestic and foreign investors to take benefit of the industrial estates.