PIEDMC offers to invest in four special economic zones

The Punjab Industrial Estates Development & Management Company (PIEDMC) has offered the local and foreign investors to set up their factories in four special economic zones (SEZs) in the Punjab province. PIEDMC chief executive officer Muhammad Javed Ilyas briefed the business community that these setups will work as tool to make investment in industrial infrastructure and a service provider. It will attract and facilitate foreign investment, integrate local firms into global value chains, promote export-oriented growth and generate employment. These economic zones are widely organized to start industrial sectors. It will promote technology transfer to local economies and can contribute in improving the overall investment environment. These zones are located approximately closed to the motorways. It will increase employment to 450,000 skilled and more than two million unskilled people, which will increase the GDP. Out of four smart special economic zones, the Quaid-E-Azam Business Park (QABP) located at on M2 motorway, just 38 kilometers from Lahore will become trend setter in the country. The special economic zones including QABP will be constructed on 1536 acres of land, and already constructed Vehari on 250 acres, Bhalwal on 427 acres of land and Rahim Yar Khan Zone on 456 acres of land.