Chinese group to launch Pakistan’s first inverter and battery plant

ISLAMABAD: A Chinese investment group has expressed a strong interest in establishing Pakistan’s first industry dedicated to manufacturing inverters and batteries. The proposed investment is set to boost Pakistan’s emerging electronics sector, potentially driving technological advancements and job creation. Liangzhang Zhou, Chairman of the Chinese business conglomerate Hexing Electrical Group, led a delegation to Islamabad, where he met with Abdul Aleem Khan, Federal Minister for Board of Investment, Privatization, and Communications.

Chairman Hexing Electrical Group said that his organization is serving in 90 countries with a workforce of 7,000 while Hexing Group has established factories in 20 countries. On the same pattern, it will set up a factory in Pakistan as well.

CEO of Hexing Group Xu Guoneng and Director of Sales 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 project and activities of his group.

Minister Khan welcomed the initiative, highlighting Pakistan’s readiness to offer a conducive environment for foreign investors. He emphasized the potential benefits of this investment, including job creation and a boost to exports, which could invigorate the country’s economic prospects.

Khan reassured the Chinese delegation of comprehensive support from relevant ministries and stakeholders, aiming to facilitate the establishment of these new factories.

Minister welcomed the planned transfer of industries from China to Pakistan, calling it a significant step. He assured the Chinese business delegation of full cooperation, emphasizing that Pakistan values the investment and will involve relevant ministries and stakeholders to facilitate the process.

Following the prime minister’s recent visit to China, Khan noted that increased joint ventures reflect strong confidence from Chinese investors. He committed to acting as a goodwill ambassador for Chinese investors and highlighted the importance of foreign investment in the electrical sector for Pakistan’s development.