Lahore: Provincial Minister for Industries and Commerce Chaudhry Shafay Hussain here Saturday chaired a meeting in which Punjab Board of Investment and Trade (PBIT), Tihal International Business Services Company (China) and KBM Group of Companies agreed to collaborate to bring direct Chinese investment to Pakistan particularly to Punjab.
The collaboration will focus on attracting direct Chinese investment in sectors such as information technology, construction, agriculture, manufacturing, and textiles.
In order to achieve this goal, a mutual agreement will soon be signed among the three organizations, and a framework for cooperation will also be developed. Implementation of this agreement will lead to increased investment by Chinese companies in Punjab.
On this occasion, Chaudhry Shafay Hussain highlighted that Punjab offers a highly favorable environment for investment, which is why both local and foreign investors are turning towards the province. He stated that Punjab aims to benefit from China’s advanc
ed agriculture and technology.
Provincial Minister also revealed that the Punjab government is launching new billion rupees projects to promote the fish industry, including the establishment of modern fish farms in Muzaffargarh and Rahim Yar Khan. Additionally, he shared details about the establishment of a Garment City on 630 acres in the Quaid-i-Azam Business Park, Sheikhupura, which will facilitate the relocation of China’s textile industry and the setup of new factories. He also mentioned that TEVTA institutions, labs and courses are being updated to meet modern requirements.
The meeting was attended by the PBIT Chief Executive Officer Jalal Hassan, PBIT Directors Imran Hashmi and Talha Tariq attended the meeting, while Tihal International’s Head Mr. Jin, Mr. Alex, and KBM Group of Companies CEO Salman Khan participated via video link.