Corporate corner: ICBC, HBL to develop industrial parks

SUZHOU: The Industrial and Commercial Bank of China (ICBC) and Habib Bank Limited (HBL) have joined hands to set up industrial zones in Pakistan. The action plan was launched in an investment conference held in Suzhou, China. The objective of this conference was to make Chinese companies aware of opportunities in Pakistan to create synergies and partnerships amongst businessmen of both countries. Such an initiative is also expected to promote economic development, attract foreign investment, modernise the industrial base and result in transfer of technology for Pakistan. Over 40 Chinese companies and 15 Pakistani companies attended the conference. This idea of developing industrial zones in Pakistan was to attract Chinese companies to setup industries in Pakistan and to promote partnerships. This partnership has led to the enhancement of joint collaborations in several enterprises, including project financing and debt arrangement, trade products, and investment banking.

 

Published in The Express Tribune, April 22^nd,  2015.

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