Minister for Board of Investment, Privatization and Communications Abdul Aleem Khan on Saturday was assured by Hexing Electrical, Chinese Group to put heavy investment by establishing new industry especially in renewable energy sector.
Chairman of China’s business group Hexing Electrical, Liangzhang Zhou along with the delegation called on Minister for Investment and informed him that it would be first industry of its own kind in Pakistan to manufacture inverters & batteries with big investment.
Abdul Aleem Khan welcomed the decision of the Chinese company and said that there are vast opportunities for investment in Pakistan, substantial results can be derived out of it in the current circumstances with the best business environment.
He said that investors from other countries, including China will be ensured by the provision of extraordinary facilities for investment in Pakistan. Abdul Aleem Khan added that establishment of new factories will increase the rate of employment and export in the country and once again boost the economy as well.
Aleem Khan said that the transfer of industries from China to Pakistan and the establishment of new factories on a large scale would be very welcome step. Assuring full cooperation to the Chinese business delegation, the Federal Minister said that Pakistan values the investment from China and will take the relevant Ministries on board to make this step possible for which stakeholders will also be consulted.
The minister said that after the recent visit of the Prime Minister to China, many business enterprises are engaging through Joint Ventures with the business community of Pakistan, which is an expression of the full confidence of Chinese investors and the business community in Pakistan.
In the meeting, the head of the Chinese group, Liangzhang Zhuo was assured by Federal Minister for Privatization and Investment Board, Abdul Aleem Khan about his commitment to act as a goodwill Ambassador for China’s investors.
Federal Minister Abdul Aleem Khan said that the establishment of factories in the electrical sector with foreign investment will be a precursor to the country’s development because there is immense potential in Pakistan, our institutions will also participate fully in the investment from China and bilaterally cooperation and business activities will strengthen the eternal relationship of friendship between both countries.
He said that projects like power plants in the industrial sector are the most important need of the hour for national development. In the meeting, CEO of Hexing Group Mr. Xu Guoneng and Director of Sales Mr. Ma Zuoteng also briefed the Federal Minister on their investment plan in Pakistan.
Director HR Europe of Hexing Group Junaid Hussain threw light on the proposed projects and activities of his group. Chairman Hexing Electrical Group said that his organization is serving 90 countries with a workforce of 7000 while Hexing Group has established factories in 20 countries while on the same pattern will set up in Pakistan, as well.
