Foreign investment: Nanchang delegation explores investment prospects

City’s Tellhow Group will continue to work with Pakistani enterprises


Our Correspondent October 24, 2018
PHOTO: Reuters

ISLAMABAD: Tellhow Group of Nanchang, China has executed a number of projects in Pakistan including more than 20 small hydroelectric power projects, a heavy oil-power station in Karachi, two nuclear power units and is now participating in designing a smart city in Gwadar.

This was stated by Nanchang People’s Government of China Vice Secretary Wan Lifei while leading a delegation during a visit to the Islamabad Chamber of Commerce and Industry (ICCI) on Tuesday.

Nanchang city, with a history stretching more than 2,200 years, is the capital of Jiangxi province. The delegation expressed keen interest in exploring prospects of investment and forming joint ventures in Pakistan.

Wan pointed out that the purpose of their visit was to understand Pakistan’s market and explore opportunities of investment and joint ventures.

“The (Jiangxi) province has emerged as a manufacturing hub for numerous industries including automotive, chemical and pharmaceutical,” she said. “Having produced China’s first aircraft and first motorbike, Nanchang has the potential to cooperate with Pakistan in multiple fields for its industrial development.”

She assured businessmen that the Tellhow Group would continue working with Pakistani enterprises in energy and other areas. Wan also extended an invitation to ICCI members for visiting Nanchang in a bid to explore avenues of collaboration with their Chinese counterparts.

Speaking at the event, ICCI President Ahmed Hassan Moughal said the second phase of the China-Pakistan Economic Corridor (CPEC) had kicked off, which provided many new investment opportunities in Pakistan.

“Nanchang enterprises should bring with them technology and machinery for setting up joint ventures with Pakistani companies,” he suggested. “Pakistan is facing a huge trade deficit and the best option for China to help Pakistan in this critical situation is to enhance its imports from Pakistan.”

He was of the view that Nanchang had a very rich history of industrial development and its enterprises should cooperate in industrial modernisation of Pakistan. He assured the Chinese that the ICCI would explore the possibility of visiting Nanchang in order to search for new avenues of mutual cooperation.

Published in The Express Tribune, October 24th, 2018.

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