Leading Chinese firms pledge large scale investment in Pakistan
PM met with CEOs of Rainbow Agritech Group, Challenge Apparel, Li &Fin Corporation and Foton cars
ISLAMABAD (Dunya News) – Prime Minister Imran Khan met leading Chinese business leaders in Beijing, who assured him large-scale private sector investment in Pakistan. 14 new memorandums of understanding were also signed between Pakistani and Chinese companies.
Prime Minister was called on by founder and Chief Executive of world leading Chinese Company Huawei Ren Zhengfei. The founder of the company assured him on expansion plans and heavy investment in Pakistan. The company has already set up their regional service center in Pakistan where 600 IT professionals are working.
Prime Minister also met with CEOs of Rainbow Agritech Group, Challenge Apparel, Li &Fin Corporation and Foton cars.
On the occasion, Prime Minister Imran Khan informed that Board of Investment was directly reporting to him and he will make sure that all hurdles to investors are removed immediately. He directed Chairman Board of Investment, Pakistan to ensure facilitation to Chinese investors on priority basis.
Advisor to PM in Commerce and Industry Abdul Razak Dawood and Chairman BOI Haroon Sharif assisted the Prime Minister in these key meetings.
Chairman BOI Haroon Sharif informed that Chinese private investment was rapidly scaling up in Pakistan which will lead to technology transfer and increased export competitiveness.
Chairman BoI, Mr. Shairf also met CEO of Orient Group, CEO of Sinopharm, and Challenge Apparel.
Meanwhile, Pakistani and Chinese firms signed different MoUs on cooperation in diverse fields. It includes;
1. China Railway Construction Corporation (International) Limited & Fastrack Silverlink (Pvt.) Ltd in Conducting Railway Cargo Business
2. Memorandum of Understanding (MoU) between Government of Pakistan and China Overseas Port Holding Company (COPHC) Ltd. Under Clean Green Pakistan Movement (CGP_M)
3. MOU for Setting-up First Cloud Centre in Pakistan for Finance and Media Industry in Collaboration with Huawei Technologies and Airlink Communication
4. Theatrical Distribution Agreement between M&D Films Pakistan and Fire International Media of China for release of film, “Parwaz Hay Junoon” in China
5. China-Pak Energy Investment (Suzhou) Co., Ltd and Sinohydro Corporation Ltd & PEDO of KP GOV in Framework Investment Agreement of Toren More Kari HPP (350 MW) Chitral, Jameshill Toren More in KP Province
6. Beijing Jingneng Power Co., Ltd and Power China International Group Limited & Oracle Power PLC in Joint Investment Agreement of 1320 (2*660 MW) Thar Coal Based Power Project at Thar Block VI, Sindh (CPEC Project)
7. Power China International Group Limited & Atlas Power Limited in Cooperation Agreement of Renewable Energy
8. Signing of Joint Venture with Sansheng Group for Development of Industrial Zone in Pakistan
9. Mou for Establishment of Agri platform at Qingdao City
10. Mou for Bei Da Huang Group & JW SEZ Group Pakistan
11. Shanghai Yuanyui Industry Co., Limited and China Railway 20 Co., Pakistan (Private) Limited & Board of Investment of Pakistan and PAK China Investment Company Limited in Textile Industry
12. China Machinery Engineering Corporation (CMEC) & Government of Balochistan in Modern Agriculture Comprehensive Development
13. Signing of financial agreement between HUBCO and Thalnova for development of 330 MW coal fired power plant in Thar Block 2.
14. MOU for joint venture of K-Electric 700MW Coal Based Power Project in Partnership with CMEC
15. MOU for Modern Agriculture Comprehensive Development PROJECT with FATIMA GROUP CO., LTD
16. CRBC & Khyber Pakhtunkhwa Economic Zone Development and Management Company, Pakistan (KPEZDMC)
