Chinese Companies keen to invest in various sectors of Pakistan’

Worldwide Business Culture Exchange Centre (WBCEC) Secretary General Yin Lin Bing Sunday said the Chinese investors considered Pakistan a potential country for business and had come here to explore opportunities for investment.

He was addressing business community here at the Islamabad Chamber of Commerce and Industry (ICCI).

Yin Lin Bing visited ICCI leading a 29-member delegation of Chinese companies, representing various sectors including power generation, manufacturers of transformers and electrical equipment, hydropower construction, transport, automobile, textile and clothing, food processing, mechanical and electrical trade, construction and real estate development, ship management services, mining machinery, pharmaceuticals, service industry and others from different provinces of the country.

Pak-China Joint Chamber of Commerce and Industry President Wang Zihai also accompanied the delegation.

Yin Lin Bing said in pursuit of the Chinese President’s One Belt One Road strategy, the WBCEC was taking Chinese business delegations to various countries.

He said so far the WBCEC had taken Chinese delegations to 29 countries, and signed contracts and memorandums of understanding of more than $ 50 billion.

He said the two countries had good potential to cooperate in pharmaceuticals, transport, industrial parks and many other areas.

He hoped that their visit would contribute to further strengthen cooperation between Pakistan and China. He stressed that the ICCI should also take its delegation to China to explore new areas of mutual cooperation.

ICCI President Khalid Iqbal Malik, in his welcome address, said the China Pakistan Economic Corridor (CPEC) project had created a good platform to put private sectors of both the countries on a long-term partnership.

The Pakistani entrepreneurs, he said, were keen to enter into joint ventures with Chinese counterparts in the historic project.

He said China was importing raw material and goods worth billions of dollars every year to meet needs of its domestic industry and urged that the country should focus on imports from Pakistan that would also improve the latter’s trade balance with it.

He briefed the Chinese delegation about investment potential in various sectors of Pakistan’s economy including power generation, infrastructure development, real estate and construction, medical science and many other areas.