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Chinese delegation of Shenzhen City visits ICCI to explore JVs

Chinese delegation of Shenzhen City visits ICCI to explore JVs

ISLAMABAD: A Chinese delegation of Shenzhen city led by Jia Changsheng, Deputy Director General, Shenzhen Investment Promotion Agency visited Islamabad Chamber of Commerce & Industry and exchanged views with the local business community on the possibilities of joint ventures and partnerships in areas of interest.

Speaking on the occasion, Jia Changsheng, Deputy Director General, Shenzhen Investment Promotion Agency said that Shenzhen was business hub of China and was making rapid economic development with a GDP of US$ 350 billion. He said the companies of Shenzhen were making hi-tech products and they were interested in JVs with Pakistani counterparts. He said after CPEC, many Chinese were coming to Islamabad and there was a great need for more five star hotels here. He said that Shenzhen’s investors have good expertise in this field and they were interested in building five star hotels in Pakistan. He said Shenzhen’s investors were also keen to build high rise buildings in Pakistan.

Jia Changsheng said that China was developing Shenzhen as a global city and Pakistan could achieve good outcomes for its economy by developing close cooperation with it. He said the purpose of Shenzhen delegation’s visit was to explore prospects for JVs and investment in Pakistan that would also help in further improving bilateral trade and economic relations between the two countries. He also invited ICCI delegation to visit Shenzhen and explore new avenues of mutual cooperation with Chinese counterparts.

Sheikh Amir Waheed, President, Islamabad Chamber of Commerce & Industry in his welcome address said that Pakistan offered great prospects for investment in hotel industry and Chinese investors should explore JVs for building five star and 7 star hotels in Pakistan. He said 9 special economic zones would be set up in Pakistan under CPEC and Chinese investors should bring technology and machinery for setting up industrial units in these SEZs.

He said Pakistan offered great investment opportunities in many sectors of its economy including infrastructure development, energy, exploration of oil, gas & minerals, light engineering, IT & telecom, logistics & transportation and stressed that Chinese investors should explore JVs in these areas in Pakistan to achieve lucrative business results. He assured that ICCI would fully cooperate in making right connections of Chinese investors with Pakistani counterparts.

Muhammad Naveed Senior Vice President and Nisar Mirza Vice President ICCI thanked Shenzhen delegation for visiting ICCI and hoped that their current visit would help in establishing good business partnerships between the private sectors of both countries.