LAHORE: A delegation of chip manufacturing company of China met Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain in the Punjab Investment Board. The Chinese company has expressed interest in investing in the manufacturing of chips and other cards.
Andrew Leong of Chinese company XH Smart Tech Limited said that our group wants to set up a chip manufacturing plant in Punjab, therefore, land should be given in Bhalwal Industrial Estate.
Talking to the delegation, Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain said that there is a wide scope for investment in the industrial zones of Punjab.
Special Economic Zones have ten years of income tax exemption and one time duty free machinery import facility. The Chinese company will provide all possible facilities to invest in the industrial zone.
He said that there is a wide scope of investment in chip and card manufacturing. The Punjab government is ready to provide all possible support to the Chinese company to set up a chip manufacturing plant.
Chaudhry Shafi Hussain said that it is my determination to bring new investment in Punjab. There is an investor-friendly environment in the province. All possible facilities are being provided to domestic and foreign investors under one roof.
Secretary Industries and Commerce Ehsan Bhutta, CEO Punjab Investment Board Jalal Hasan and officials of Chinese company XH Smart Tech Limited were present in the meeting.
Copyright Business Recorder, 2024
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