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Nanchang Enterprises show interest to invest in Pakistan

Nanchang Enterprises show interest to invest in Pakistan

ISLAMABAD: A delegation of Nanchang People’s Government of China led by its Vice Secretary General Mrs. Wan Lifei visited Islamabad Chamber of Commerce & Industry and showed interest to explore prospects of investment and JVs in Pakistan. Shi Hao, Vice Director of Commerce Bureau of Nanchang City, Mrs. Wan Hongmei Vice Director of Administrative Committee of Ganjiang New District in Nanchang City, Mr. Wo Qianjin Director of Hi-Tech District Administrative Committee, Investment Promotion Bureau of Nanchang City and others were in the delegation.

Speaking at the occasion, Mrs. Wan Lifei, Vice Secretary General, Nanchang People’s Government said that the purpose of their visit was to understand the Pakistani market and explore opportunities of investment and joint ventures. She said Nanchang City with a history of more than 2200 years was the capital of Jiangxi Province of China and has emerged as a manufacturing hub for many industries including automotive, chemical, pharmaceutical and others. She said that Nanchang produced China’s first aircraft, first motorbike, first batch of coastal defense missiles and it has the potential to cooperate with Pakistan in many fields for its industrial development.

She said Tellhow Group of Nanchang has already executed many projects in Pakistan including more than 20 small hydropower projects, heavy oil power station in Karachi, military radar, two nuclear power units and now was participating in the design of Gwadar port smart city. She said the group would continue to work with Pakistani enterprises in energy and other fields. She also invited ICCI delegation to visit Nanchang City and explore business collaborations with Chinese counterparts.

Addressing the delegation, Ahmed Hassan Moughal, President, Islamabad Chamber of Commerce & Industry said that 2nd phase of CPEC on industrial cooperated has started creating many new investment opportunities in Pakistan and stressed that Nanchang enterprises should bring technology and machinery to set up JVs with Pakistani companies. He said Pakistan was facing huge trade deficit and the best option for China to help Pakistan in this critical situation was to enhance its imports from Pakistan. He said that Nanchang was enjoying a very old history of industrial development and its enterprises should cooperate in industrial modernization of Pakistan. He assured that ICCI delegation would explore the possibility of visiting Nanchang to explore new avenues of mutual cooperation.

Iftikhar Anwar Sethi Vice President ICCI, Naeem Siddiqui, Abdullah Malik and others also spoke at the occasion and highlighted the potential areas of cooperation between the enterprises of both countries.