Muhammad Saleem

The Faisalabad Chamber of Commerce and Industry (FCCI) plans to engage Korean entrepreneurs for potential investments in the district, aiming to rebuild private-sector ties that have remained limited since 1995.

FCCI President Rehan Naseem, speaking to WealthPK, said that business dynamics are evolving rapidly. In response, he emphasized the need to explore new markets. He added that the Faisalabad chamber is making every effort to assist the local business community in expanding its operations. This strategy, he noted, will help strengthen the national economy and create employment opportunities for the youth.

He stated that the FCCI is actively seeking foreign investment for Faisalabad, and that Korea, as one of Asia’s leading economies, has the potential to revive local industries, generate jobs, and boost exports. However, he cautioned that challenges such as electricity shortages, gas supply issues, high raw material costs, and other bottlenecks must be addressed with sincerity and proper planning.

“We believe this partnership will bring progress, innovation, and prosperity not only to Faisalabad but to the entire nation.” He said the Chamber is fully prepared to welcome Korean investors as well as investors from other countries. Speaking about Pakistan’s business relations with Korea, he recalled that ties with Korean investors were strong in the 1990s, particularly in the textile and machinery sectors.

However, after 1995, the relationship declined due to several factors — political instability and lack of follow-up being key issues. “Now, we want to reinvigorate this relationship to help strengthen our economy,” he added. He noted that Faisalabad is known as the textile capital of Pakistan, and expressed confidence that Korean investment could play a vital role in modernizing local industries.

Outlining the target sectors for investment, Rehan Naseem said the focus is primarily on textiles and garments. However, he added, there is also significant potential in renewable energy, automobile parts, and IT solutions. He pointed out that Korean companies are global leaders in solar energy and smart machinery technologies. “We also aim to attract Korean training institutes, so our youth can learn modern skills directly from Korean experts.”

He suggested offering special incentives for foreign investors, including tax benefits, assistance with land acquisition, and overall ease of doing business. Waheed Ahmed, an industrialist, told WealthPK that Korean investment could significantly boost Pakistan’s textile sector. He said that if the partnership is managed effectively, Pakistan could make significant progress with Korean investors. “Korea is renowned for its technology, clean energy, electronics, and smart manufacturing — and Pakistani businesses need these technologies to move forward,” he added.

He said that with the help of technological progress, industries in Faisalabad can become more competitive and efficient. The arrival of Korean entrepreneurs in Pakistan would also help create jobs for the youth and introduce new skills to the local workforce. However, to realize this potential, he stressed that investment must be long-term, transparent, and equitable.

He noted that Korean companies are actively looking for new markets, and Faisalabad presents excellent opportunities for foreign investors due to its strong textile base. He said most investors seek cost-effective production hubs — and Pakistan is well positioned to offer that. “We need to help foreign investors understand that Pakistan offers low labor costs and an industry and market ready for digital innovation.

Investors from Korea and other countries are drawn to destinations with strong potential for growth and partnership. By ensuring a secure business environment and providing government support, we can easily attract foreign investment,” he added. He also suggested that a Korea–Pakistan desk be established at the Ministry of Commerce to help facilitate Korean investors.

Credit: INP-WealthPk