Shengtang Group eyes $10m MoU in Pakistan

A delegation of China's Shengtang Group has expressed interest in signing a memorandum of understanding (MoU) worth $10 million and exploring investment opportunities in Pakistan across industrial development, infrastructure, tourism, electric vehicles (EVs), railways, energy and urban development.

The delegation called on Adviser to the Prime Minister on Industries and Production Haroon Akhtar Khan, according to a statement issued by the Ministry of Industries and Production on Monday. The adviser said Prime Minister Shehbaz Sharif's vision of enhanced cooperation with China was being translated into practical outcomes, adding that directions had been issued to facilitate Chinese investors and improve ease of doing business.

He said business-friendly regulatory reforms were being introduced in line with the prime minister's directives and highlighted the land-lease model available to investors as an important facilitation mechanism for promoting investment and industrial development. "The time is right for investors to explore opportunities in Pakistan. The country has demonstrated its reliability and resilience at the international level," he said, inviting Chinese investors to benefit from emerging opportunities.

Highlighting the longstanding relationship between Pakistan and China, the adviser remarked that the two countries enjoyed ties "thicker than blood." He said joint ventures and MoUs had been signed between the two countries, with approximately 40% of these initiatives having entered the implementation phase.

He observed that further Chinese investment would contribute to industrial expansion, economic activity, technology transfer and employment generation in Pakistan.