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Sunday, October 2, 2022

German electronics specialist Weidmüller plans opening production plant in Pakistan

Germany-based electronics giant Weidmüller Group which specializes in the areas of process automation connectivity, communication and digitalization announced to start a production plant in Pakistan in near future. The company is an expert in the transmission of power, signals and data in industrial environments.

A high-level business delegation from Germany held a meeting with Secretary Board of Investment (BOI), Fareena Mazhar and expressed their interest in dairy industry, communication, automobile and service sector for investment in Pakistan.

The delegation comprised 16 members, headed by Oliver Oehms, CEO AHK Dubai. It included several German business giants like Lufthansa, AHK, SIG MEA, Weidmüller Middle, Emltc Emerging Solutions among others, who enjoy prominent presence in most parts of the world and are visiting Pakistan to analyze the business climate and explore lucrative investment opportunities in Pakistan.

The visit has come about as an encouraging prospect for Pakistan in terms of attracting new investment in several sectors and has been termed as a positive sign for the country’s economy by Secretary BOI.

BOI executive Fareena briefed the delegation on Pakistan’s investment policy, which has been formulated to create an investor friendly environment to attract foreign direct investment and provide equal treatment to foreign and local investors.

Secretary Fareena Mazhar highlighted the tax incentives available to investors in the Special Economic Zones (SEZs) and mentioned the 22 SEZs approved by BOI across Pakistan including Allam Iqbal Industrial city, Rashakai SEZ, Khairpur SEZ, M3 Industrial City Faisalabad, National Science and technology Park, Hattar SEZ etc.

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