Govt Trying Best To Facilitate Foreign Investors

LAHORE, (UrduPoint / Pakistan Point News - 29th Oct, 2016 ) : The Lahore Chamber of Commerce & Industry and Weihai Chamber of Commerce & Industry on Saturday signed a Memorandum of Understanding (MoU) to strengthen trade and investment ties besides promoting cooperation in various sectors of economy.

LCCI President Abdul Basit signed the MoU on behalf of the Lahore Chamber of Commerce & Industry while Weihai Chamber of Commerce & Industry was represented by the Weihai Branch President Cai Xiaomeng.

On the occasion, 12-member Chinese delegation, led by Vice Chairman Weihai Federation of Industry & Commerce Xia Zhongping, also had B2B meetings with their Pakistani counterparts. According to the MOU, both the Chambers would promote mutual cooperation in the sectors of construction, infrastructure, agriculture, livestock, renewable energy, mining, information technology, textile, machinery and chemical.

Both the chambers will jointly organize event, trade fairs and exchange delegation. Speaking on the occasion, LCCI President Abdul Basit said that the visit of delegation, MOU and B2B meetings would help Chinese businessmen explore the trade and investment opportunities.

He said the persistent increase in the frequency of trade delegations from China to Pakistan showed that Chinese private sector was taking keen interest in developing trade and investment relations with their Pakistani counterparts.

He said that Chinese entrepreneurs from important sectors of the economy like vehicle manufacturing, energy-efficient construction, infrastructure development, biotechnology, packaging printing and fishery development etc could start joint ventures with their Pakistani counterparts.

The LCCI President said that there were great investment opportunities in nearly all the sectors in Pakistan. Our friends would be happy to know that the government of Pakistan was trying its level best to facilitate the foreign investors to do business here and had ensured that transfer of their funds and profits was easily carried out.

He said that at present, all the major chambers of Pakistan were busy in building relations with foreign investors. The provincial governments along with the Federal government were taking all possible steps to increase foreign investment in the country.

In this situation, the Chinese companies could benefit the most by liaising with the local chambers of Pakistan. He said that there were already some companies from Pakistan and China which were collaborating with each other under CPEC project.

"We will certainly like to welcome more companies from China to look for joint venture projects in Pakistan", he added. Head of the Chinese delegation and Vice Chairman Weihai Federation of Industry & Commerce Xia Zhongping said that Chinese businessmen were keen to augment their relations with Pakistani businessmen.

He hoped that they would find more opportunities for trade and investment. He said that being a major hub of trade and economic activities, Lahore could provide more opportunities to the Chinese entrepreneurs. He hoped that visit of delegation would be result oriented and Chinese companies would find new trade partners in Pakistan.