Chinese Cos sign MoU on investment in Punjab

LAHORE:A delegation of Chinese companies visited the Punjab Industrial Estates Development and Management Company (PIEDMC) Head Office to explore investment opportunities and strengthen economic cooperation between Pakistan and China.

It was agreed to establish a Pak-China Investment Cell and Research Lab under the management of PIEDMC. Chairman of PIEDMC Javed Iqbal, along with board members and industrialists of Sundar Industrial Estate, welcomed the delegation. More than 13 representatives of Chinese companies related to technology, logistics, trade, and infrastructure were included in the delegation. A detailed briefing was given on the current projects, facilitation, and one window operations of the PIEDMC. The delegation showed keen interest in investment in different sectors, including manufacturing, renewable energy, and logistics.

The event was highlighted by the signing of a Memorandum of Understanding (MoU) between PIEDMC and the Chinese delegation. The MoU outlines a framework for collaboration, mutual facilitation, and investment support under the umbrella of PIEDMC.

PIEDMC CEO Capt ® Shoaib Ali and CEO Precise Development HK Limited, Mr Hiu David Chiu, signed the MoU. On the occasion, PIEDMC Chairman Javed Iqbal assured the Chinese delegation of best cooperation for the investment in PIEDMC-managed industrial zones in Punjab.

He also said that the partnership was expected to open new avenues of economic cooperation, create employment opportunities, and contribute to the success of initiatives under the China-Pakistan Economic Corridor (CPEC). The delegation acknowledged PIEDMC’s proactive investor-friendly policies, infrastructure, and one-window operations, and indicated plans to invest millions of dollars in various sectors.