DECEMBERASIA BUSINESS OUTLOOK8NEWSROOMAlisher Tukhtayev, the Ambassador of Uzbekistan to Pakistan, met with Federal Minister for Commerce Jam Kamal Khan to explore ways to improve business opportunities and trade relations, as Islamabad aims to strengthen investment connections with the Central Asian Republics (CARs).Pakistan is striving to strengthen its position as a key trade and transit center linking the landlocked Central Asian nations with the global community, utilizing its strategic geographic location. In the past few weeks, a surge of visits, investment discussions, and economic exchanges has occurred between representatives from Pakistan and the Central Asian countries.In February 2023, at the eighth session of the Inter-governmental Commission on Trade-Economic and Scientific-Technical Cooperation in Tashkent, Pakistan and Uzbekistan established a $1 billion agreement to enhance bilateral trade.The accord was intended to promote the trade of goods and services. The departing Uzbek Ambassador to Islamabad, Oybek Usmanov, stated in September of this year that the nations intended to unveil a $1 billion roadmap for trade and industrial collaboration soon."Both sides agreed to work closely to unlock the full potential of their relationship", a statement from the Pakistani commerce ministry said after Khan's meeting with Tukhtayev, who was appointed in October."The progress in Uzbekistan is remarkable, and I was particularly impressed by its railway system", the minister said, underscoring the importance of learning from Uzbekistan's advancements. India's rapidly growing manufacturing sector is fueling the expansion of mid-range and upscale hotels into industrial hubs, addressing the increasing need for quality accommodations for business travelers. Prominent hotel chains such as Marriott, Hyatt, Orchid, Regenta, Vivanta, and Ginger are establishing properties in key manufacturing zones, including Vithalapur, Talegaon, Chakan, Bhiwandi, Pithampur, Kalinganagar, Sanand, and Hosur. This shift reflects a growing trend where visiting executives prioritize staying closer to their factories to avoid long commutes and traffic congestion.In Vithalapur, an emerging automotive hub located over two hours from Ahmedabad, luxury hotels like Courtyard by Marriott and Hyatt Place are set to open within the next year. Similarly, the recently launched 100-room Fern Residency in Talegaon, on the outskirts of Pune, has already gained traction among corporate travelers. Pithampur in Madhya Pradesh, another industrial hotspot, is attracting mid-market options like Click Hotel and Sayaji, driven by a robust demand from the manufacturing sector. Meanwhile, in Chakan and Bhiwandi, which are significant industrial zones near Pune and Mumbai, Ginger Hotels is developing 200-room properties to cater to the growing influx of business visitors.This surge in hospitality development highlights the untapped potential of India's manufacturing clusters. According to Nandivardhan Jain, CEO of Noesis, a hotel investment and advisory firm, manufacturing hubs represent significant opportunities for the hospitality industry. "With multinational corporations and SMEs expanding their presence in these regions, there's a critical need for quality accommodations for business travelers", he said.As manufacturing activity intensifies across these regions, the hospitality sector is stepping up to support the growing corporate demand. These developments not only reflect the transformation of industrial hubs but also underline the strategic role of hotels in facilitating business travel and supporting India's industrial growth. PAKISTAN IMPROVES TRADE WITH UZBEKISTAN AMID INVESTMENT PUSH IN CENTRAL ASIAINDIA'S MANUFACTURING HUBS BECOME POPULAR ZONES FOR HOSPITALITY PLAYERS
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