FIEDMC Will Create New Business Opportunities For Chinese Companies, Yao

Chinese ambassador, Yao Jing said SpecialEconomic Zones (SEZs) especially functioning under Faisalabad IndustrialEstate Development and Management Company (FIEDMC)will create new business opportunities for Chinese companies in many economic sectors as they are planning to invest $5 billion in Pakistan in the next three to five years

LAHORE (UrduPoint / Pakistan Point News - 18th October, 2019) Chinese ambassador, Yao Jing said SpecialEconomic Zones (SEZs) especially functioning under Faisalabad IndustrialEstate Development and Management Company (FIEDMC) will create new business opportunities for Chinese companies in many economic sectors as they are planning to invest $5 billion in Pakistan in the next three to five years.Talking to FIEDMC Chairman Mian Kashif Ashfaq here today, Yao JingLAHORE (Pakistan Point news / Online - 18th October, 2019) ingappreciated the government's friendly business policies and pledged Chineseinvestment in various small and medium sized industrial sectors.The Ambassador said Pakistan was a longstanding trade and strategic partnerof China and "we have plans to invest more under Pakistan Economic Corridor(CPEC) and buy more from the Pakistan to make it economically stronger andindependent country," adding he said "We look forward to speedy completionof the projects, included in the CPEC plan.

We hope, with its fullimplementation, it will help create more jobs, provide better health andeducational facilities."He hoped Punjab would be hub of investment in future. He said thatcooperation would also be extended for the development of human resource.He said that shifting manufacturing sector to Pakistan would be animportant step.Welcoming the ambassador's remarks, FIEDMC Chairman Mian Kashif Ashfaq saidit reflected the trust of the Chinese side in Pakistan's growing economyand a strong desire to translate the Pak-China equation into a win-wineconomic partnership.

He said the government is facilitating investors andreducing impediments in ease of doing business.He also asked Chinese companies to shift plants to Pakistan to overcometheir high labour cost.Mian Kashif said new businessmen and investors are also investing in theindustrial estate, particularly overseas Pakistanis from Dubai, UnitedKingdom, United States and other countries.

The estate would play host totextile, pharmaceutical, food, cereal, cosmetics, electrical panel andpower industries as well as rice processing factories, he said. "The goodthing is that PIEDMC is led by private sector so that it can be moreflexible, able to respond to the changing environment and designed to befinancially self sustainable in order to maintain desired impetus ordevelopmental works," he added.Later, Mian Kashif Ashfaq also extended invitation to Chinese ambassadorYao JingLAHORE (Pakistan Point News / Online - 18th October, 2019) ing to bring Chinese furniture manufacturers in upcoming 3-day megaInteriors Pakistan Exhibition commencing from Nov 22 in Expo Center Lahorein which more than 100 local and international brands will display theirproducts.