Chinese envoy hints at increasing investment in Punjab

LAHORE:Chinese Consul General Zhao Shiren has expressed intentions to increase investment in Punjab. He said that the efforts would be made to increase Chinese investments in Punjab and attract more Chinese companies to invest here.

The Chinese Consul General shared these views during his meeting with Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain, who called on him at the Chinese Consulate on Friday.

Chinese investments in Punjab, security for Chinese investors and the upcoming visit of a high-level delegation from Punjab to China, the renewal of agreement between Punjab and Tianjin University of Technology were discussed during the meeting.

During the meeting, it was agreed to enhance cooperation between China and Punjab in agriculture, energy, technical education, textile, and other sectors. The Chinese Consul General added that the visit of Punjab's high-level delegation to China would strengthen bilateral trade cooperation and assured full support for the delegation's visit.

Speaking on the occasion, Shafay said that several Chinese companies have already made significant investments in Punjab, and further investments would be welcomed. He emphasised the provision of top-notch security arrangements for Chinese investors.

He mentioned his previous meetings with numerous Chinese investment companies and highlighted that an agreement has already been signed with China's AIKO Company to set up a solar panel assembly and manufacturing plant in Punjab.

The minister stated that the Punjab government is focusing on the promotion of electric vehicles and is in discussions with a Chinese company to establish a manufacturing plant for electric vehicles in Punjab. Additionally, he mentioned that a Garment City is being developed to promote the textile sector in the province.