Faisalabad: According to a tweet from Abdul Razak Dawood, Advisor to the Prime Minister on Commerce and Investment, a United Arab Emirates (UAE)-based energy corporation will spend USD 15 million in the Faisalabad Special Economic Zone (SEZ) in the coming months (December 16).

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According to reports, the investment plan will be carried out in three parts, the first of which would include the construction of an Aerosol Propellant Gas (APG) factory. In addition, the company will gradually begin producing refrigerant gases and lubricating items for the Abu Dhabi National Oil Company (ADNOC).

The adviser also thanked the Board of Investment (BoI) for fostering a business-friendly environment that made the investment possible. Multinational firms’ investment in Pakistan’s newly formed SEZ, he added, reflects rising confidence in the government’s policies on ease of doing business.

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Furthermore, Muhammad Azfar Ahsan, Minister of State and Chairman of the Board of Investment, remarked that the BOI is working hard to attract Foreign Direct Investment (FDI) by simplifying rules for firms. He also mentioned that there are special provisions for interested businesses to invest in the 22 SEZs that have been approved.

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