Foreign investors, particularly from African nations, are being offered special incentives to invest in Punjab’s Special Economic Zones (SEZs), officials announced during a high-profile reception held at the Pakistan State Guest House in honour of visiting ministers and business leaders from African countries.
The event was jointly hosted by Africa House Pakistan and the Ministry of Foreign Affairs, with Punjab Minister for Industries and Commerce Chaudhary Shafay Hussain attending as the chief guest. The reception drew participation from Chairman Africa House M Rehan Younus, Ambassador Hamid Asghar Khan, Uganda’s Agriculture Minister Mr Frederick, and prominent representatives from the business communities of both Africa and Pakistan. A symbolic cake-cutting ceremony celebrated the growing Pakistan-Africa friendship.
In his address, Minister Shafay Hussain stressed the need to bridge the trade and investment gap between Pakistan and African nations. He highlighted Punjab’s SEZs as attractive destinations for international investors, offering incentives and ease of doing business.
He announced the establishment of a Garment City under the chief minister’s directive to boost the textile sector, which is already attracting investment from Chinese and other foreign firms. He also revealed the development of a Pharmaceutical Valley on 130 acres in Quaid-i-Azam Business Park, Sheikhupura, noting the vast potential for foreign investment in textiles, pharmaceuticals, surgical and sports goods, and mining.
Hussain emphasized Pakistan’s mineral wealth and pointed to Africa’s expertise in mining as an opportunity for mutual collaboration. He also cited ongoing projects, such as a Chinese mobile manufacturing plant in Faisalabad, and planned facilities for solar panel and lithium battery production in Punjab.
Uganda’s Agriculture Minister, Mr Frederick, shared investment prospects in Uganda, while Africa House Chairman Rehan Younus noted the organization’s role as a gateway for Pakistani businesses to enter African markets. Ambassador Hamid Asghar Khan reaffirmed Pakistan’s commitment to expanding trade with Africa.
Other notable speakers included TDAP Secretary Shehryar Khan and Chamber of Commerce President Abuzar Shad, who echoed the call for stronger Pakistan-Africa economic partnerships.
