Faisalabad is expected to create approximately 300,000 jobs and attract Rs 400 billion to invest in the automobiles, value-added textiles, engineering, pharmaceuticals, food processing, chemical, building and packaging industries, all of which will be established under the China-Pakistan Economic Corridor (CPEC).
According to a report by China Economic Net, the project will not only contribute to GDP and boost exports, but also promote import replacement.
The first development of an industrial estate, under CPEC, was made recently by Prime Minister Imran Khan to launch Allama Iqbal’s industrial zone.
The central location and its 4500 acres of manufactured property on the mainM-3 motorway provide the perfect conditions to establish new state-of – the-art industries in the city on the east route of the CPEC.
A total of 4356 hectares are occupied by the first developed “M-3 Industrial City” on the M-3 Motorway, near Faisalabad City. It offers one window mechanism that saves valuable time and resources for the business community.
Through joint cooperation with Chinese entrepreneurs, It will not only boost economic growth but will also help to provide employment to a large number of people. The cooperation will also help to decrease poverty and to improve the wellbeing of life by focusing socio-economic gross root level factors in Faisalabad and the surrounding areas as well.