Chinese firm to invest $2m in chemical sector

Intends to explore business, investment opportunities in Pakistan

ISLAMABAD: Following incentives offered by Pakistan government, Guangzhou Rongshen Trading Company, one of the largest manufacturers of fragrance and perfumes in China, has announced plans to invest $2 million in the chemical sector of Pakistan and explore further investment avenues.

Guangzhou Rongshen Trading Company Chairman Ivan Jiang signed a memorandum of understanding (MoU) with Faisalabad Industrial Estate Development and Management Company (FIEDMC) Chairman Mian Kashif Ashfaq, said a statement issued on Monday.

Talking to the media following signing of the MoU, Ivan said the legal framework in Pakistan was sound and comprehensive. He underlined that Pakistan government had already played a vital role in providing a business-friendly environment and security to Chinese companies.

Govt proposes Rs83b for CPEC projects

“We are an international chemical supplier,” said Ivan while highlighting details of the company. “Our company intends to explore business and investment opportunities in Pakistan, which has become an important investment destination for Chinese businessmen and entrepreneurs after the launch of CPEC.” Expressing confidence in the current economic situation in Pakistan, he said Pakistan’s economy was advancing and immense business and investment opportunities existed for Chinese companies.

Welcoming the Chinese investors, Ashfaq said the government was focusing on the export-oriented sector by reducing input costs.

Published in The Express Tribune, June 25^th, 2019.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.