The Commercial Counsellor Embassy of Pakistan in Bangkok Syed Zafar Ali Shah held a meeting with Tweepong Kmolvatanavit managing director of M/s Summit Footwear Co, Ltd, a Thai company that produces footwear under the brand Aerosoft in Thailand.
Tweepong expressed his interest to invest in footwear sector in Pakistan. The company, Summit Footwear, currently produces footwear under the brand Aerosoft in Thailand and exports to different countries including India, Pakistan, Afghanistan, UAE, Saudi Arabia, etc.
The company is now planning to establish a footwear factory in either Pakistan or India. The Commercial Counsellor informed him of liberal policies of Pakistan ie, 100 percent foreign equity anywhere in the country, ownership of land, profit repatriation, skilled workforce and equal opportunity to both local and foreign investors.
The strategic location of Pakistan has been informed as a country with its own population of around 160 million and it is a gateway to Afghanistan, South Asia and through Dubai to Middle East. Tweepong was also given a brief of footwear industry in Pakistan and about Industrial clusters including Karachi, Lahore Faisalabad, Gujranwala, Sialkot, etc. Some of the tariff and taxation regime such as sale tax and corporate tax rate were also shared.-PR