Pak China Joint Chamber of Commerce and Industry (PCJCCI) President Shah Faisal Afridi has said introduction of cost effective, space efficient and environment friendly Chinese construction material could bring a revolution to the construction sector of Pakistan. He stated this while meeting four-member Chinese delegation headed by Xiaoming Cheng Board Chairman, Shandong Building Materials Group. Other members were Zhang Pei Hao, General Manager Marketing, Tony Hu, Sales Manager and Xiao, Vice President Yantai Chamber of Commerce and Industry.
The delegation visited the chamber's office to review opportunities for joint ventures in the construction industry that would further supplement other related industries such as cement, iron, steel, timber, wood, marbles, tiles and stones, plastics, fibres, furniture and electrical appliances.
Welcoming the Chinese delegation, Shah Faisal Afridi said the construction industry of Pakistan is one of the prime source of employment generation in Pakistan and the second largest industry of Pakistan followed by textile sector, which is providing jobs to millions of unskilled, semi-skilled and skilled work force. But, the industry still has a huge untapped potential due to lack of latest infrastructure needs in Pakistan, he added.
Referring to a World Bank study, he speculated that the growth in the construction industry of Pakistan this year would be higher than the previous year due to increased foreign investment and the improved law and order situation that is helping the industry to grow at a faster pace. This year the construction industry grew by 11.3 percent so far against the set target of 5.7 percent while the share of the industry in GDP at 2.4 percent by raising the annual growth to over 10 percent because of the growth in construction industry, he mentioned.
He was hopeful that the visit of Chinese entrepreneurs would produce fruitful results as it would help in exploring potential areas of mutual collaboration. Xiaoming Cheng, Head of the Chinese delegation said that Chinese entrepreneurs were encouraged to find out tremendous possibilities of investment and joint ventures in Pakistan in the field of construction industry. This is the time to transform the good historic ties into thriving trade and economic relations between the two countries. He further invited the members to visit Taitou Town, Shouguang, China where he has developed innovation production facility centre that he want to relocate partially to Pakistan due to rising labour costs in China.
Zhang Pei Hao, General Manager Marketing, Shandong Building Group said that as per market research conducted by our team, there is a huge untapped potential that requires concerted efforts along with giving special prices for widespread introduction. He also presented proposals for joint ventures in building materials, PPR pipes and fittings, interior designing, electrical equipment including elevators and excavators, mobile and mobile accessories, innovative and smart lifestyle products, security solutions and tourism sector.