China keen to establish $15 billion industrial park in Punjab

LAHORE: A Chinese province has expressed its interest to establish a $15 billion industrial park in Punjab province as China-Pakistan Economic Corridor (CPEC) will open an avenue of opportunities for both nations.

Sichuan Geological and Natural Resources Bureau Director Wang Jian expressed these views during a visit by a high-level Chinese delegation to Punjab Board of Investment and Trade (PBIT), reported a English daily.

He said setting up of a high-tech park will foster stronger economic collaboration between Pakistan and Chinese business community. Wang disclosed there were efforts underway to start direct flights between Chengdu and Lahore, Sichuan province’s capital.

He added Punjab government was enabling a business-friendly environment and nurture investment opportunities in the province. Wang voiced hope about formation of joint ventures for economic progress and sustainable development, highlighting these kinds of partnerships were taking nations into a new era of creativity and growth.

The meeting also discussed about prospective and existing projects and a detailed overhaul was undertaken between PBIT team and the Chinese delegation.