More than 100 Chinese companies participate in Pakistan Industrial Expo 2021

Lahore: More than 100 Chinese companies are participating in the Pakistan Industrial Expo 2021 inaugurated here through both physical and online mode of participation, a senior government official said.

Additional Secretary and Executive Director General Board of Investment (BOI) Khashihur Rehman commented that despite the Covid-19 situation, Pakistan and China had been able to sustain a healthy economic and investment partnership and it is now high time to join hands for a much-needed economic and investment rebound.

“More than 100 Chinese companies are participants of the Expo through both physical and online mode of participation. This is the best possible solution to bring businesses from both countries together for rejuvenation of bilateral investment cooperation,” he remarked.

The Additional Secretary BOI stated that with the commencement of the second phase of CPEC, which mainly focuses on people to people and business to business (B2B) cooperation, BOI was continuing to take lead on investment promotion, facilitation, and industrial cooperation.

He expressed that the Pakistan industrial Expo 2021 will play a pivotal role in achieving the goals of the second phase of CPEC.

He informed the audience that in terms of facilitation of innovation and business to business (B2B) ties between the two countries, the establishment of a Pakistan China Business to Business (B2B) Investment Portal by BOI in collaboration with its Chinese counterpart, the China Council for International Investment Promotion (CCIIP), will enable the matchmaking prospects of Chinese, local and third-party investors.

Separate breakout rooms were set up for effective interaction and meaningful participation of investors from Shandong and Henan provinces of China.

The suggestions received from the investors’ community and stakeholders were highly appreciated and noted by the BOI officials with the commitment to take them up at appropriate level.

The Henan province, being the largest province of China has immense potential for future investment projects with Pakistan, and scope for high-quality investment activities between the businesses of the two countries. Wang Zihai, Honorary Investment Counsellor (HIC) of Pakistan from China appreciated the role of Board of Investment (BOI), Islamabad, and stated that the Pakistan Industrial Expo 2021 a unique opportunity to showcase the Chinese projects to Pakistani businesses for joint collaboration.

Badaruz Zaman, Commercial Counsellor in Pakistan’s Embassy in Beijing, addressed the participants underscoring that Pakistan’s economy stands at a crucial vantage point with the potential to steer the nation towards an industrialized future underscored by economic prosperity. For this, Pakistan must attract new investments which will help the country to create jobs and foster economic growth, he added.

In this regard, China is the biggest Foreign Direct Investment (FDI) contributor and there is immense capacity for further bilateral investment endeavors, he pointed out.

The Expo inauguration was attended by Asim Ayub, Project Director, China-Pakistan Economic Corridor (CPEC)-Industrial Cooperation, Xiang Zhiqiang, Deputy Director of China-Shanghai Cooperation Organization Local Economic and Trade Cooperation Demonstration Area Management Committee, Wang Zihai, Executive Director of Pakistan China Center, Badaruz Zaman, Commercial Counsellor, Embassy of Pakistan in China, Peng Zhengwu, Acting Consul General of Consulate General of the People’s Republic of China in Lahore, Xu Daqun, Director of Foreign Trade of Department of Commerce of Henan Province, Ren Weijun, Director of Foreign Exchange and Cooperation Department, representatives of local Chambers of Commerce, and Everest International Expo. Pvt. Ltd.