Chines investors urged for taking advantage of local human capital

ISLAMABAD: Chairman Senate Standing Committee on Defence Production, Lieutenant General (R) Abdul Qayyum here Saturday called upon the Chines investors to set up industries in Pakistan to take advantage of human capital.

Addressing a business delegation of Karamay Municipal Government of China, he said that Pakistan had very competent engineers, skilled manpower and Chinese investors should take benefit from it.

The delegation led by Executive Vice Mayor of Karamay Wang Jun visited Islamabad Chamber of Commerce and Industry to explore opportunities of joint ventures and business partnerships with Pakistani counterparts.

He called upon the Chinese investor for investing in agriculture, fish farming, industry, tourism and many other sectors in Pakistan.

He said China-Pakistan Economic Corridor (CPEC) projects was a project of shared prosperity for the region as well and it would be proved a game changer for the entire region.

He said there was a lack of information between private sectors of both the countries and urged the need for exchange of trade delegations that would fill the information gap.

He said that Pakistan and China not only have trade and investment relations, but both the counties have strong bounds on defence cooperation and defence production.

The assembling of JF-17 Thunder, Al-Khalid Tank and manufacturing of submarines were the glorious examples of the defence cooperation between the two countries, he added.

He stressed the need for enhancing business to business contacts in order to realizing the true potential of bilateral trade and investment between both the countries.

Speaking on the occasion, President ICCI Khalid Iqbal Malik said that CPEC has started a new chapter of long term partnership between China and Pakistan.

He further said that work on 17 mega energy sector development projects under CPEC was in progress and planning for the construction of 9 industrial zones have also been finalized.

He hoped that private sectors of both countries would take full benefits from it through joint ventures and investment in various projects.

He said that many sectors of local economy including power generation, construction, infrastructure development, oil and gas, logistics, engineering, food processing and others offered huge investment opportunities.

He urged that Chinese investors for bringing technology and machinery to set up industrial units in Pakistan for the development of local industrial sector and job creations.

Addressing the meeting, Wang Jun said that Pakistan and China enjoyed excellent relations and there was a need to bring private sectors of both countries further closer to achieve better progress and prosperity for the two nations.

He said the third Karamay Forum would be held at Lahore and it would provide a good platform to the private sectors of both countries to interact and explore new avenues of mutual cooperation.

He said Chinese investors had invested in fishing facilities at Gwadar and wanted to explore more investment in Pakistan.

He said Karamay was an advanced industrialized city and Pakistan could get good economic benefits by developing close cooperation with it.

He also invited a delegation of ICCI to visit Karamay to explore business opportunities in China.