A leading Chinese firm is keen to set up industrial unit in Pakistan

LAHORE: A Chinese leading company, Qingdao Hongzhu Agriculture Machinery Co Ltd, has evinced keen interest to set up industrial unit in Pakistan to manufacture modern agricultural machinery to help boost agri production at massive scale.

Chairman Faisalabad Industrial Estate Development and Management Company (FIEDMC) Mian Kashif Ashfaq Wednesday said that Special Economic Zones (SEZs), especially functioning under Faisalabad Industrial Estate Development and Management Company (FIEDMC) will create new business opportunities for Chinese agricultural companies in many economic sectors, especially in agricultural sector to boost mutual investment volume. Diplomatic sources from China told Mian Kashif through video conference that one of the Chinese leading company, Qingdao Hongzhu Agriculture Machinery Co Ltd, at maximum level to set up industrial unit to manufacture agricultural machinery in Pakistan. He said Pakistan is an attractive liberal investment destination with tremendous opportunities to foreign investors in various sectors of the economy and FIEDMC would love to accommodate in line with the vision of Prime Minister Imran Khan.

He said the FIEDMC was attracting foreign investors due to its best incentive packages and business friendly environment and due to their best policies, Chinese companies in many sectors of the economy as investors are planning to invest $5 billion in Pakistan over the next three to five years. He also highlighted that more than 22 Chinese companies have started building their infrastructure in M-3 Industrial City. “We have developed a supportive infrastructure and established a one-window service centre, especially for Chinese companies,” he added.

Mian Kashif upholding the government’s commitment to offering maximum facilities to overseas investors, emphasised that local manufacturers, industrialists and investors are being offered equal opportunities and a level playing field. He said industries operating in the FIEDMC will have an immediate access to high quality infrastructure, uninterrupted power supply, public facilities and support services along with simpler ease of doing business. He said as for as security to foreign and local investors is concerned, FIEDMC in collaboration with Industrial Police Liaison Committee has established police post at M-3 Industrial City and the industrial community is working under safe environment.