President seeks Chinese investment in Pakistan

President seeks Chinese investment in Pakistan

President Asif Ali ZardariISLAMABAD:  President Asif Ali Zardari on Thursday said there was a great opportunity for the Chinese investors to take advantage of the special business and investment opportunities being offered by Pakistan.

This he said during a meeting with Chairman Asia Investment Houtang Mr Li Yan here at the Aiwan-e-Sadr on Thursday.Mr Li Yan’s delegation included among others Mr Chen Qi, DG China Petrochemical Corporation, Mr Fang Fenglei, Chairman HOPU Investment, Prof Tang. Chairman KASB Finance Arif Shah Bukhari was also present.Finance Minister Sindh Syed Murad Ali Shah, Special Secretary to the President Major ® Haroon Rashid, MD Zulfiqarabad Development Authority (ZDA) Lt. Gen ® Iftikhar Hussain Shah and other senior officials were also present during the meeting.

The President during the meeting said that Pakistan eagerly awaits Chinese investment in the new city Zulfiqarabad. He said that the proposed city would be an engine of growth and would go a long way in generating economic activities. It will give tremendous boost to the social and economic uplift of the area besides creating enormous job opportunities, he added.The President appreciated the Chinese interest in the development of Special Economic Zones in the proposed city project.  These Economic Zones would not be confined to industrial and economic activities but would cover the entire range of activities in a modern metropolis, he added.

He said the project would not only further strengthen Pak-China cooperative partnership but was also a homage to the great leader Shaheed Zulfiqar Ali Bhutto who laid the foundation of strong Pak-Sino friendship.He reiterated that the idea of setting up a new city was to meet the challenges of the future and to develop safe, modern and an environment-friendly coastal city having world class amenities with economic opportunities.

The President while appreciating M/s Asia Investments Houtang’s decision to invest in the Special Economic Zone said that the government would provide all possible assistance and facilitation to the Chinese companies and investors in the petrochemicals and other areas especially those that do not exist in the country at present.

He assured the Government’s full assistance and support for smooth operation of Chinese companies in Pakistan. The President also assured fool proof and enhanced level of security / protection of the life of Chinese citizens in Pakistan. Managing Director ZDA, Lt. Gen ® Syed Iftikhar Hussain Shah during meeting briefed about the progress made so far in the proposed project.Mr Li Yan thanked the President for meeting and for Government’s assistance and facilitation in their business ventures in Pakistan. – Nation