Pakistan’s Ambassador to China, Masood Khalid briefed Chinese companies on Friday about the attractive investment climate in Pakistan and invited them to tap investment opportunities offered by the real estate sector.Welcoming the representatives of a large number of Chinese companies who attended a road-show offering investment opportunities in a ‘Twin Tower’ project in Lahore organized by Lahore Development Authority (LDA) and Commercial Section of the Embassy of Pakistan, he said, the Pakistan government was making earnest efforts to bring about prosperity and development in the country.
He added that the government was providing unprecedented and equal opportunities to local and foreign investors and asked them to come forward and take advantage of pro-investment and pro-business policies.
The ambassador informed that the legal system in Pakistan fully protected foreign investment, particularly Chinese investment. He said both Pakistan and China enjoyed excellent and mutually beneficial relations, which were growing day by day.
“We are also partners in the development and implementation of the common objective of the One Belt One Road Initiative initiated by Chinese President Xi Jinping,” he added. He said that China Pakistan Economic Corridor (CPEC) was the flagship project of the One Belt One Road Initiative, which would bring about development and prosperity for not only both the friendly countries but also for the region as a whole.
Masood Khalid said different projects of energy, infrastructure development, roads network and bridges had been launched under the CPEC and Chinese companies were actively taking part in their implementation.
He said that there was political and economic stability in Pakistan and all major credit institutions had expressed satisfaction over economic growth. He shared with the audience that 19,000 Chinese workers were working in Pakistan, where a special security force had been raised for their safety and security.
The ambassador said the number of Chinese businessmen visiting Pakistan had increased last year, which showed their confidence in Pakistan and its economy. “To further facilitate Chinese businessmen wishing to visit Pakistan, we have increased the number of flights and now they could reach Pakistan in less than six hours time,” he added.
About the project, he said Chief Minister Punjab, Muhammad Shahbaz Sharif had directed the LDA to build a modern tower equipped with modern facilities for the people. He said that the proposed tower would have offices, departmental stores, food outlets and cinema and would be built in the centre of Lahore.
Director General LDA, Zahid Zaman briefed the businessmen about the background, objective and technical details of the project. He said that the LDA had been empowered to grant all the approvals regarding plans, development and construction.
“We have invited private sector, developers and international partners to come forward and help us with their capital, experience, expertise in real estate development,” he added. Representatives of Pakistani banks were also present to give financial advice to the Chinese companies.
