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PM Imran invites Chinese companies to invest in SEZs

Updated 05 Feb, 2022
Prime Minister Imran Khan during virtual meeting with Chinese state-owned and private corporate sectors in Beijing. APP
Prime Minister Imran Khan during virtual meeting with Chinese state-owned and private corporate sectors in Beijing. APP

Prime Minister Imran Khan on Friday invited the Chinese companies to invest in Pakistan and benefit from the business-friendly policies of the government.

The prime minister, who held a series of meetings with the executives of Chinese State-owned and private corporate sectors, said Pakistan was offering conducive environment for investment in Special Economic Zones (SEZs) under the China Pakistan Economic Corridor.

In his remarks, the prime minister appreciated the keen interest of the Chinese companies to invest in Pakistan.

The executives who met the prime minister included leadership of China Communication Construction Company (CCCC), Huazhong Technology, Zhejiang Seaport Group, Challenge Apparel, Hunan Sunwalk Group, Royal Group, China Road and Bridge Corporation (CRBC), Zhengbang Group and China Machinery Engineering Corporation (CMEC).

The corporate leaders briefed the prime minister on the progress of their ongoing projects in Pakistan.

They evinced keen interest in expanding investments in Pakistan in projects related to recycling of metals and paper, energy, textile, fibre-optics networks, housing, dairy and water management.

The CCCC is a leading global construction and infrastructure development company; Huazhong Technology, specialises in integrated papermaking equipment; Zhejiang Seaport Group is one of China’s largest port operators; Challenge Fashions is a leading textile company; Hunan Sunwalk’s core business is in communications, 3D printing and construction; Royal Group is China’s largest buffalo milk producer; CRBC focuses in civil engineering and construction projects; Zhengbang Group is Jiangxi Province’s largest agricultural enterprise; and CMEC is one of Chinese top agro-industrial machinery company.

The prime minister was joined in the meetings by federal ministers, advisers and senior officials.

Moreover, PM Imran also interacted with a variety of Chinese state-owned and private companies which expressed the desire to establish a $3.5 billion worth of reprocessing park in Gwadar and a $350 million worth of textile cluster near Lahore.

Special Assistant to Prime Minister on China Pakistan Economic Corridor (CPEC) Khalid Mansoor, who is accompanying the premier in his four-day China visit, told media that a consortium of three Chinese companies expressed the willingness to build a metal and paper re-processing park in Gwadar within two to three years.

He said the prime minister held a “clear communication” with National Development and Reform Commission staff who assured support and commitment for the successful execution of the second phase of CPEC while maintaining "high pace and quality."

Mansoor added that the prime minister had been assured that the joint working groups in 10 varying sectors would provide technological and financial support for the realization of projects.

He said that during their meeting with the prime minister, the representatives of three major agricultural firms wanted to establish a modernisation research lab and a demonstration plot on the Chinese pattern to improve yield and seed quality in Pakistan.

Moreover, the Chinese fertilizer companies also desired to invest in the export-oriented growth of corn and soybeans besides another one interested in the dairy sector to enhance the export of milk and other dairy products.

Besides, another Chinese textile firm, reputed for high export-quality apparel, also planned to build a textile cluster over 100 acres of land on Lahore-Kasur Road by investing $350 million which would also create around 20,000 jobs.

The SAMP hoped that after the prime minister’s visit, Pakistan would be able to get commitment from a variety of sectors and major companies of Fortune 500.