KARACHI - The investors of Turkey have shown keen interest in developing Special Economic Zone in Karachi.
Sindh Board of Investment Chairman Muhammad Zubair Motiwala said this during a luncheon meeting hosted by President Ankara Chamber of Commerce.
According to official statement issued by the Sindh government, the Ankara Chamber of Commerce & Industry has developed various Special Economic Zones in Ankara.
Chairman along with Sindh investment delegation visited the First Institutionalised Industrial Zone in Turkey fully developed and operated by Ankara Chamber of Commerce & Industry.
Sindh is in need of institutionalised Special Economic Zone with state of the art infrastructure facilities, availability of amenities, legislation and incentives to induce FDI in Sindh said Zubair Motiwala, Chairman Sindh Board of Investment.
He further explained that recent Special Economic Zone Act passed by the Federal Assembly gives ample opportunities and incentives for dedicated zones, where they can operate industries as per the international laws.
While asking for the availability of land for any such zones Secretary General of ASO (Ankara Chamber of Commerce) said that “Critical issues such as land acquisition policies, legal framework and tax regime of the country play important role for attracting local and foreign investment along with self sustainability of SEZs”. Chairman SBI explained that for brothers like Turkey Sindh will go all the way to facilitate and help establish this zone in areas close to Karachi.
SBI and Government of Sindh agreed to explore development of Turkish Special Economic Zone (TSEZ) in Sindh. It was agreed that technical and legal details of establishment of such zone in Pakistan will be shared to give practical shape to the establishment of TSEZ.