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Huawei CEO Ren Zhengfei expresses interest in ‘heavy investment’ during meeting with PM Imran

Huawei CEO Ren Zhengfei expresses interest in ‘heavy investment’ during meeting with PM Imran

BEIJING: Prime Minister Imran Khan met the founder and chief executive of Chinese tech giant Huawei, Ren Zhengfei, in Beijing, who expressed his interest in making “heavy investment” in Pakistan, according to a statement by the Ministry of Planning.

Huawei has already set up a regional service centre in Pakistan, the statement notes, adding that 600 IT professionals are presently working there.

The prime minister also met with representatives of other leading Chinese firms, who pledged large-scale private sector investment in Pakistan.

The CEOs of Rainbow Agritech Group, Challenge Apparel, Li & Fin Corporation, and Foton cars were among the business leaders who met the premier, according to the planning ministry handout.

Board of Investment (BoI) Chairman Haroon Sharif and Advisor to PM on Commerce and Industry Abdul Razak Dawood were also present during the meetings. The prime minister directed the BoI chairman to remove any hurdles faced by investors and ensure that they are facilitated on a priority basis.

Multiple new memoranda of understanding were inked with various Chinese firms to further cooperation in diverse fields, the details of which are as under:

China Railway Construction Corporation (International) Limited and Fastrack Silverlink (Pvt) Ltd in conducting railway cargo business

Memorandum of Understanding (MoU) between the Government of Pakistan and China Overseas Port Holding Company (COPHC) Ltd under the Clean Green Pakistan movement

MOU for setting-up the first cloud centre in Pakistan for the finance and media industry in collaboration with Huawei Technologies and Airlink Communication

Theatrical distribution agreement between M&D Films Pakistan and Fire International Media of China for release of the film ‘Parwaz Hay Junoon’ in China

Framework investment agreement between China-Pak Energy Investment (Suzhou) Co Ltd, Sinohydro Corporation Ltd and Pakhtunkhwa Energy Development Organisation (PEDO) of KP government for Toren More Kari hydro power project (350 MW) in Chitral and Jameshill Toren More hydropower project in KP

Joint investment agreement with Beijing Jingneng Power Co Ltd, Power China International Group Limited and Oracle Power PLC for 2×600 MW Thar Coal Based Power Project at Thar Block VI, Sindh (CPEC Project)

Cooperation agreement of renewable energy with Power China International Group Limited and Atlas Power Limited

Signing of a joint venture with Sansheng Group for development of Industrial Zone in Pakistan

Mou for establishment of Agri platform at Qingdao Cit

Mou for Bei Da Huang Group and JW SEZ Group Pakistan

Textile industry agreement between Shanghai Yuanyui Industry Co Ltd, China Railway 20 Co Pakistan (Private) Limited, Board of Investment of Pakistan and Pak China Investment Company Limited

Agreement for modern agriculture comprehensive development between China Machinery Engineering Corporation (CMEC) and Government of Balochistan

Signing of financial agreement between HUBCO and Thalnova for development of 330 MW coal fired power plant in Thar Block 2.

MOU for joint venture of K-Electric 700MW Coal Based Power Project in Partnership with CMEC

MOU for Modern Agriculture Comprehensive Development Project with Fatima Group Co Ltd

Agreement between China Road and Bridge Corporation (CRBC) and Khyber Pakhtunkhwa Economic Zone Development and Management Company, Pakistan (KPEZDMC)