Turkish companies to set up industrial units in Pakistan

Turkish companies to set up industrial units in Pakistan

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On Monday, the Turkish delegation expressed its interest in setting up industrial units in Pakistan to begin development activities to fulfil the needs of the construction industry, the Islamabad Chamber of Commerce and Industry (ICCI) said in a press release.

The visiting delegation was briefed by ICCI President Sardar Yasir Ilyas Khan on the potential business and investment prospects in the real estate and development sectors of the country.

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

He said the new government has announced a very lucrative construction package to improve the country’s construction activities, and it was the best time for foreign investors to explore the real estate and construction industries of Pakistan for joint ventures and investment.

He said that Turkish investors should bring technology and expertise to Pakistan and set up industrial units in order to capitalise on emerging investment opportunities in construction and other sectors, which would also help to optimise our country’s economic development and export growth.

 

He ensured that the ICCI will provide all necessary assistance and facilitation for joint ventures and investments in the country to Turkish investors.

Speaking at the event, President Mustafa SAK of Turkey’s ADO Group said they’ve had tremendous investment opportunities in Pakistan and wanted to set up industrial units to manufacture building materials and products to meet the needs of the local construction industry.

They said that for both nations, their cooperation with Pakistani counterparts would be advantageous.

He stated that Pakistan and Turkey had worked to negotiate a preferential trade agreement aimed at substantially increasing trade and investment, in particular in transport, telecommunications, engineering, tourism and other industries, and hoped that the volume of bilateral trade between the two countries would be further expanded by the finalisation of the agreement.

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