BEIJING: Inviting Chinese companies, Pakistan Ambassador to China Masood Khalid has urged them to take advantage of the country’s investment-friendly policies and come forward to pour capital into the textile and garment sector.
Speaking to representatives of about 76 Chinese companies at a road show of the Quaid-e-Azam Apparel Park, Sheikhupura, he said, “Pakistan government is focusing on the development of textile and garment sector as it is considered to be the backbone of the country’s economy.”
Giving details of the project, he said it was aimed at development of the textile and garment sector, adding Pakistan exported bulk of its textile products to China.
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Khalid emphasised that the government had launched various mega projects for the development of Pakistan, particularly the Punjab government’s schemes such as provision of clean drinking water, farm-to-city roads and a knowledge park in Lahore.
He asked Chinese entrepreneurs to take advantage of the enormous opportunities as Pakistan, especially Punjab, was emerging as a hub of economic activities.
He told the audience that more than 90,000 Chinese nationals were already working on different development projects in Pakistan. “The government has taken special measures for their safety and security,” he said.
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Drawing attention of the Chinese companies to the apparel park project, Khalid said it was being established near Lahore and was a big project. “We are looking for good contractors for executing this project, which is aimed at ensuring quality and implementation in line with international standards.”
He also highlighted the special incentives offered by the government and the importance of Pakistan’s strategic location.
“Cheap raw material along with hardworking workforce and managerial teams are available; besides, profit margins are very good in Pakistan,” the envoy said. “We are working to modernise the development process and all industries have been integrated.”
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All the important world financial institutions had expressed satisfaction over the performance of Pakistan’s economy and they had termed it strong and stable, he remarked.
Project Director Shahzad Sheikh, who arrived from Pakistan to organise the road show, said its objective was to invite international contractors to participate in infrastructure development of the Quaid-e-Azam Apparel Park.