Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman, Mian Kashif Ashfaq on Friday said Li and Fung, one of the biggest Chinese buying companies expressed its keen interest for business collaboration and investment in multiple sectors of Pakistan.
FIEDMC Chairman disclosed this after a week-long successful tour to Shanghai in China-Pakistan Vendor Summit while talking to media here today. A high profile Pakistani delegation included Ahmad Nawaz Sukhera Federal Secretary, Ministry of Commerce, Board of Investment, TDAP, FIEDMC and leading industrialists held very successful meetings with Li and Fung Chief Operating Officer Wilson Zhu and both the sides agreed to explore investment opportune ties to strengthen further mutual relations.
He said in rapidly changing world scenario especially in wake of US-China trade conflict, the Chinese government has directed its companies to set up industries in Pakistan or start joint ventures to exploit world market and this is very good omen for the economy of the country. He said the good thing is that the government is taking steps to ensure that a business-friendly environment is provided to foreign investors and to improve the ease of doing business in Pakistan
He further said during their meeting with Wilson Zhu, he was of the opinion that Pakistan was making good progress and creating new prospects for foreign investors. He said in terms of development, Pakistan was at a similar stage where China was 25 years ago that showed that Pakistan was emerging as a good market for foreign investors. "Both sides agreed to further expand and deepen their collaboration including in the areas of new and emerging technologies, nanotechnology, biotechnology, ICT, which can contribute to improved living standards through their applications in the fields of health, agriculture, water, energy and food security," he added.
He said the purpose of visit was to explore possibilities of joint ventures and investment in areas of interest. He said the delegation held meetings with the Chinese officials as well that confirmed Pakistan was a big market for Chinese entrepreneurs. He said more Chinese investors would be lured to visit Pakistan to explore business opportunities in this attractive market.
Pakistan has come out of the critical situation because of the untiring efforts of Prime Minister Imran Khan," he said adding that foreign investors are taking keen interest for investment in Pakistan. China, Qatar and Saudi Arabia have also expressed willingness to invest in Pakistan.
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