Federal Minister for Board of Investment, Mr. Qaiser Ahmed Sheikh, held a productive meeting with a high-level delegation of Challenge Fashion (Private) Limited, led by Chairman Mr. Huang, to discuss the progress of the Challenge Special Economic Zone (SEZ) in Lahore and explore avenues for further strengthening investment cooperation.
The meeting was attended by Secretary Board of Investment, Mr. Jamil Qureshi, Director General BOI Mr. Mehmood Tufail, along with other senior officials of the Board of Investment. The Chairman of Challenge Fashion was accompanied by senior members of his delegation, reflecting strong institutional engagement from both sides.
The Federal Minister warmly welcomed the delegation and appreciated Challenge Group’s continued confidence in Pakistan’s economy. He commended their significant investment and ongoing efforts in developing the Challenge Special Economic Zone, terming it a landmark initiative in Pakistan’s industrial landscape.
The Minister noted that the project, with a proposed investment of USD 150 million, reflects a strong commitment towards export-oriented industrialization, employment generation, and technology transfer. He emphasized that the success of this venture will serve as a model for other international investors, particularly Chinese enterprises, and will motivate them to explore Pakistan as a preferred investment destination.
During the meeting, both sides held detailed discussions on the development status of the SEZ, including progress on infrastructure, utilities, and regulatory facilitation. The Minister acknowledged the tangible progress made so far, including completion of key preliminary works and initiation of construction activities, and assured full government support for timely resolution of outstanding matters.
The discussion also focused on Special Economic Zones in other countries, particularly Vietnam, where streamlined procedures and investor-friendly policies have contributed to attracting large-scale foreign investment. The Federal Minister highlighted the importance of learning from international best practices and incorporating reforms in Pakistan’s regulatory framework to further enhance ease of doing business. He reiterated the government’s commitment to simplifying investment procedures, improving inter-agency coordination, and ensuring a conducive business environment for investors.
Mr. Qaiser Ahmed Sheikh further underscored that under the leadership of Prime Minister Muhammad Shehbaz Sharif, the Government of Pakistan is actively pursuing policies aimed at promoting industrial growth, export-led development, and foreign direct investment. He noted that initiatives under CPEC Phase-II and SEZ development are central to this vision.
The delegation appreciated the facilitation extended by the Board of Investment and other stakeholders and expressed confidence in the long-term potential of Pakistan’s industrial sector. They reaffirmed their commitment to timely completion of the project and exploring further expansion opportunities in the country.
The meeting concluded with a shared resolve to strengthen Pakistan-China industrial cooperation and ensure the successful implementation of the Challenge SEZ as a flagship project.
Board of Investment remains fully committed to facilitating investors and ensuring the smooth implementation of strategic investment projects in Pakistan.
