Lahore: Punjab Minister for Industries, Commerce and Investment Chaudhry Shafay Hussain on Friday invited American investors to capitalise on Punjab’s business-friendly environment, highlighting the province’s investor incentives, expanding industrial base and vast opportunities for bilateral cooperation.
He said this while addressing “Punjab-U.S Business Forum: Strengthening Partnerships, Expanding Opportunities, Advancing Shared Prosperity,” organized by Punjab Board of Investment and Trade (PBIT) at a local hotel on Friday.
The minister welcomed the business, investment and commerce delegation from the United States in Lahore and said that Punjab was the right destination for investment, offering attractive incentives in its Special Economic Zones (SEZs), including zero customs duty on imported machinery, a 10-year income tax exemption, uninterrupted electricity and gas supply, and modern infrastructure.
He said the provincial government was committed to facilitating investors by providing roads, sewerage and other essential infrastructure, while all required no-objection certificates (NOCs) would be processed through Business Facilitation Centres within 30 days.
Shafay Hussain said Punjab Chief Minister Maryam Nawaz had further simplified investment procedures by allowing construction work to begin in accordance with standard operating procedures (SOPs) even if some NOCs were still under process.
Highlighting the province’s industrial growth over the past two and a half years, he said several industries had expanded their production capacity, particularly in the surgical sector. He noted that Sialkot’s world-renowned surgical instruments were being exported extensively, with nearly 90 percent destined for the United States and Canada.
The minister said Punjab was also witnessing expansion in the sports goods, ceramics and tiles sectors within its free zones. He added that, for the first time in Pakistan’s history, Chinese mobile phone manufacturer Vivo had launched local manufacturing, while a chip frame manufacturing facility was under construction in the Faisalabad Free Zone, with around 40 percent of the project already completed. Commercial production is expected to begin within the next one and a half years.
He said electric vehicle (EV) manufacturing had also gained momentum in Punjab, with electric bike factories already operational and investments flowing into lithium battery production. Several Chinese EV brands had also established manufacturing plants in the province.
The minister said the Punjab government was providing interest-free loans to investors through the Bank of Punjab, adding that a survey conducted last year showed around 70 percent of traders had benefited from the scheme.
Referring to his visit to the United States two years ago, Shafay Hussain said there was immense untapped potential for economic cooperation between Pakistan and the US, particularly in the pharmaceutical sector. He said Punjab was establishing a 200-acre pharmaceutical zone in the Sheikhupura Free Zone, which would serve as a high-tech hub for pharmaceutical manufacturing.
He invited the US delegation to engage with Pakistan’s pharmaceutical industry, saying local companies were producing high-quality products with strong export potential for the American market.
The minister also stressed the need for collaboration in soybean cultivation, agricultural technology and cotton production, noting that Pakistan’s textile industry, which employs around 35 percent of the country’s labour force, could benefit from advanced US expertise and high-quality cotton varieties.
He said Punjab had strengthened technical and vocational education by upgrading laboratories and establishing skill development institutions in industrial zones to meet the needs of modern industries.
Calling for sustained engagement between both sides, Shafay Hussain said the government believed in practical outcomes rather than merely signing memorandums of understanding (MoUs). He emphasized that continuous follow-up and the formation of working groups would be essential to transform discussions into tangible investment and trade partnerships.
The delegation was briefed on investment opportunities in Punjab across various sectors, including energy, agriculture, livestock, minerals, mining, pink salt and other industries. More than 30 delegates attended the event.