Pakistan, China to enhance cooperation in IT, electric vehicles and industrial sectors

By Dr Ansab Ali
Lahore, Pakistan

LAHORE: Punjab Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain visited the Chinese Consulate in Lahore and held a meeting with Chinese Consul General Sun Yan to discuss Chinese investment in Punjab and ways to further strengthen bilateral economic cooperation.

The meeting focused on promoting investment by Chinese companies in Punjab and enhancing collaboration in various sectors, including information technology, electric vehicles (EVs), industry and agriculture.

The two sides also discussed expanding cooperation in the manufacturing of tractors, super seeders, harvesters and other modern agricultural machinery in Punjab.

Speaking at the meeting, Chaudhry Shafay Hussain said Punjab offered vast investment opportunities for Chinese companies in its Special Economic Zones (SEZs).

He said several Chinese companies had already invested billions of rupees in various sectors across the province. He added that Vivo, a leading Chinese mobile phone company, was launching chip frame and mobile phone manufacturing in Pakistan for the first time.

The minister said several electric two-wheeler manufacturing plants had already been established in Punjab, while production of lithium batteries and electric two-wheelers had also commenced.

He added that China’s ceramic industry was expanding in Punjab, while construction of two new factories by Challenge Group, a Chinese company operating in the textile sector, was progressing rapidly.

Chaudhry Shafay Hussain said Punjab would warmly welcome further investment from Chinese companies, adding that increased investment would create more employment opportunities for local people.

He said China’s rapid development was a role model for Pakistan and that Punjab was keen to benefit from China’s development experience and modern technologies.

The minister said construction of a community centre for foreign investors in the Faisalabad Special Economic Zone would commence within the next two months.

He also announced that a delegation of industrialists from Punjab, led by him, would visit China later this month and hold meetings with Chinese companies to explore new investment opportunities in Punjab.

Chaudhry Shafay Hussain said, on the directions of Chief Minister Punjab, a conducive business environment and the best possible facilities had been ensured for investors in the province.

He said growing investment by Chinese companies in Punjab was further strengthening economic cooperation between Pakistan and China.

The minister described the friendship between Pakistan and China as everlasting and said strong people-to-people ties existed between the two countries.

Chinese Consul General Sun Yan said Punjab offered a conducive business environment and excellent investment opportunities. He said efforts would be made to attract more Chinese companies to invest in the province.

Sun Yan said China attached great importance to its friendship and economic cooperation with Pakistan, adding that effective measures would be taken to further strengthen economic ties between China and Punjab.

Director Punjab Board of Investment and Trade Dr Imran Hashmi and officials of the Chinese Consulate were also present at the meeting.