Karachi: Muhammad Zubair Motiwala, Chairman Sindh Board of Investment, has said that Ankara Chamber of Commerce & Industry has shown keen interest for development of Special Economic Zone in Karachi.
Such interest was shown during a luncheon meeting hosted by President, Ankara Chamber of Commerce. Motiwala is heading a delegation of SBI.
Ankara Chamber of Commerce & Industry has developed various Special Economic Zones in Ankara. It is among the largest Chambers of Turkey, President Ankara Chamber of Commerce & Industry told.
Motiwala, along with Sindh Investment delegation, visited the First institutionalized Industrial Zone in Turkey fully developed and operated by Ankara Chamber of Commerce & Industry.
“Sindh is in need of institutionalized Special Economic Zone with state of the art infrastructure facilities, availability of amenities, legislation and incentives to induce FDI in Sindh,” Zubair Motiwala said.
He explained that recent Special Economic Zone Act passed by the Federal Assembly give 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 & foreign investment along with self-sustainability of SEZs”.
Chairman SBI explained that for brothers like Turkey Government of Sindh will go all the way to facilitate and help establish this zone in areas close to Karachi.
SBI 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.