A delegation of Chinese companies led by Yingfu Alex Gong, Managing Director, AAK & Associates LLC visited Islamabad Chamber of Commerce & Industry (ICCI) and showed interest for business collaboration and investment in multiple sectors of Pakistan including housing/construction, urban planning, power generation, oil & gas, auto sector, IT and textile.
The representatives of Hunan Allonward Hydro-Generating Equipment Co. Ltd., DHC Software Co Ltd., China Energy Engineering Group, CRSC International Co Ltd, Pan-China Construction Group Ltd. and CEEC Hunan Thermal Power Construction Co. Limited were in the delegation.
Speaking one the occasion, Yingfu Alex Gong, Head of Chinese delegation said that Pakistan was making good progress and creating new prospects for foreign investors. He said in terms of development, Pakistan was at a similar stage where China was 25 years ago that showed that Pakistan was emerging as a good market for foreign investors.
He said the purpose of visiting Pakistan was to explore possibilities of JVs and investment in areas of interest. He said the delegation held meetings with government officials that confirmed that Pakistan was a big market for Chinese entrepreneurs. He said more Chinese investors would be encouraged to visit Pakistan to explore business opportunities in this attractive market.
Abdullah Hashwani, CEO, Hashwani & Son Inc. and focal person of delegation said that Chinese investors were very serious to invest in Pakistan as they have been introduced to some good investment prospects here.
Addressing the delegation, President ICCI Ahmed Hassan Moughal said that lot of construction projects were going on in Pakistan while the current government has launched “Naya Pakistan Housing Program” to build 5-million houses in Pakistan. He said that due to rising population and emerging market, energy needs were increasing in Pakistan. He said auto sector was also booming in Pakistan while IT and textile were growing sectors in the country.
Ahmed Hassan Moughal stressed that Chinese investors should transfer technology and set up JVs with local partners in Pakistan to achieve lucrative results. He said that by investing in Pakistan, Chinese companies would be able to meet the needs of local market and export surplus products to many countries including Middle East, Central Asia and other regions. He assured that ICCI would extend all possible cooperation to Chinese companies for finding right partners in Pakistan.
Senior Vice President ICCI Rafat Farid and others also spoke at the occasion and highlighted the potential areas of cooperation between the enterprises of both countries. At the end, B2B meetings were held between both sides to discuss prospects of business collaboration.