Aerospace firm eyes $5-10b investment

Targets sectors like mining and minerals, advanced tech, industrial development

ISLAMABAD:

Federal Minister for Board of Investment Qaiser Ahmed Sheikh held an important meeting with a delegation of Aerospace Development Industry Investment Group Co of China, led by Lu Jinhai, Party Secretary and Chairman of the Board.

Welcoming the delegation, the federal minister highlighted the vast investment opportunities available in Pakistan and appreciated the interest shown by the Chinese company in exploring potential investment avenues.

Pakistan offers significant investment potential owing to its strategic geographical location connecting South Asia, Central Asia and the Middle East, a large consumer market of over 240 million people and a young and dynamic workforce. The country also provides attractive incentives for investors.

The Chinese delegation briefed him on the global profile and operations of their company. They said that the aerospace company was an international investment group with an "AAA" corporate credit rating, engaged in strategic industrial investments in advanced technologies, aerospace development, artificial intelligence, electric vehicles, drone technologies and energy projects.

During the meeting, the delegation expressed keen interest in investing between $5 billion and $10 billion in Pakistan across multiple sectors including mining and minerals, advanced technology industries and industrial development. They also emphasised their interest in collaborating on skill development initiatives, highlighting their long-term vision of contributing to Pakistan's economic development and technological advancement.

The delegation expressed its willingness to work with Pakistan to support the objectives of the Belt & Road Initiative (BRI) and enhance regional connectivity and economic cooperation.

Federal Minister Qaiser Ahmed emphasised that Pakistan was keen to attract greater foreign direct investment and expected strong support from its trusted partner China.