LAHORE: Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain said that Chinese investors and their investments in Punjab are fully protected. He said that better agricultural production can be achieved with good seeds, so the Chinese group should consider investing in seed development. He said that Punjab is an agricultural province and there is a huge scope for investment in the agricultural sector.
Chaudhry Shafay Hussain expressed these views while addressing luncheon ceremony hosted by Bank of Punjab at a local hotel on Tuesday in honour of a large Chinese agriculture-related company in the context of the recent visit of Punjab Chief Minister to China.
Provincial Minister for Transport Bilal Akbar Khan was also present on this occasion. Punjab Bank President Zafar Masood, Secretary Industries Dr Ehsan Bhutta, Secretary Agriculture Iftikhar Ali Sahoo and other relevant officers attended the ceremony. Pakistan’s business community was also present at the ceremony, while a delegation led by CEO of China’s Artificial Intelligence Force Tech Company Han Wei participated in the ceremony.
A Chinese company has indicated its intention to invest in the agricultural sector of Punjab. The company's CEO said that their company's small farming technology is highly beneficial and they will provide Electric Vehicle (EV) technology to Punjab and will also consider setting up an EV tractor assembling plant here. He said that they will fully cooperate with the Punjab government for the promotion of modern agriculture.
During the ceremony, various proposals were reviewed to enhance cooperation between the Punjab province and China and promote agriculture.
Addressing the ceremony Shafay Hussain said that during his visit to China, investment agreements have been signed with several Chinese companies which will materialise rapidly. He said that a Chinese mobile phone company has started the construction of a phone manufacturing plant in Punjab. The provincial minister said that the focus of CM Punjab is the manufacturing of solar panels in Punjab. In this regard, an agreement has been signed with a large Chinese group for the manufacturing of solar panels in Punjab and the manufacturing of solar panels will start in Punjab soon. Provincial Minister for Transport Bilal Akbar Khan said that the Punjab government is formulating a policy for the promotion of EV sector and there is a huge scope for investment in the electric vehicles sector. He said that cooperative farming can prove to be a game changer in terms of food security. President Bank of Punjab Zafar Masood gave a detailed briefing on the bank's steps undertaken to bring new investments to Punjab.